Joe is considering opening an sports training business for elementary aged students. He would quit his job as an assistant high school basketball coach in which he earns $48,000 per year. In addition, he needs to rent a gym, which would cost him $5000 per month in rent and utilities. In order to buy equipment, he would cash out a fully mature $50,000 bond earning 10% interest each year. Market research indicates that Joe can expect 300 families to pay $20 a month for weekly group training session for their kids.

a. What are Joe's expected ANNUAL accounting profits? (Round to the nearest dollar an include only numbers, e.g. 23400 or -23400.)

b. What are Joe's expected ANNUAL economic costs? (Round to the nearest dollar an include only numbers, e.g. 23400 or -23400.)

c. What are Joe's expected ANNUAL economic profits? (Round to the nearest dollar an include only numbers, e.g. 23400 or -23400.)

d. Should Joe open the sports training business? Enter YES or NO