Jun's Car Yard sells second-hand cars. His annual total revenue is $2million. His annual costs of operating the business are as follows. Buying the stock of used cars that he will sell costs $1million. General operating expenses are $200,000. Jun is the sole worker in the business. If he did not work in the business he would work as a salesman at another car yard and earn $100,000 per annum. Jun owns the premises from which his business operates, and the land is valued at $1 million. The annual rate of interest is 10 percent. Which of the following is correct? Group of answer choices Jun's annual economic profits equal $0.8million Jun's annual economic profits equal $0.7million Jun's annual economic profits equal $600,000 Jun's annual economic profits equal $2million. It is not possible to calculate Jun's annual economic profits