Kevin lives in Dallas and runs a business that sells boats. In an average year, he recelves $851,000 from selling boats. Of this sales revenue, he must pay the manufacturer a wholesale cost of $476,000; he also pays wages and utility bills totaling $281,000. He owns his showroom; if he chooses to rent it out, he will recelve $71,000 in rent per year. Assume that the value of this showroom does not depreciate over the year. Aso, if Kevin does not operate this boat business, he can work as an accountant and recelve an annual salary of $34,000 with no additional monetary costs. No other costs are incurred in running this boat business. Identily each of Kevin's costs in the following table as either an implioit cost or an explicit cost of selling boats. Complete the following table by determining Kevin's accounting and economic profit of his boat business. Complete the rollowing table by determining Kevin's accounting and economic profit of his boat business. Alternatively, the economic profit he would earn as an accountant would be If Kevin's goal is to maximize his economic profit, he stay in the boat business. True or false: Kevin is earning a normal profit. False