Jill resigns her job, at which she was earning $ 50,000 per year and uses $ 100,000 inn savings to start a business, on which she was earning 5% per year, to start a business. In the first year, she earns revenue of $ 150,000, and her costs are as follows:

Rent $ 25,000

Utilities $ 12,000

Wages $ 30,000

Materials $ 20,000

a. Calculate Jill's accounting profit

b. Calculate Jill's economic profit