Jan Kingston left their job at Innovation Computing with a salary of $200,000 per year and set up a microchip company and has been operating it for a year. To pay for renovations on a leased building and for robotics and other machinery Jan withdrew his savings of $500,000 which was earning 4.0% per annum in interest, and took out a business loan for $600,000 at a 6.0% per annum. In the first year of operation, Jan paid: $260,000 for materials, variable costs and fixed costs; $400,000 in wages to employees; and $150,000 for the lease on the building. Jan's sales that year were 13,253 units at $83 each. What was Jan's economic profit for the year? Question 14 options: $34,000 $254,000 $70,000 $54,000