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Janet left her $100,000 per year position at a major public accounting firm to start her own solo accounting business in her hometown.In the first

Janet left her $100,000 per year position at a major public accounting firm to start her own solo accounting business in her hometown.In the first year, she paid herself a salary of $50,000 and incurred other expenses for office, equipment, and software leases of $50,000.Her client billings totaled $150,000.What were her accounting profits?What were her economic profits?Explain the difference.

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