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Last year, Jarod left a job that pays $60,000 to run his own bike repair shop. Jarod's shop charges $65 for a repair, ond last

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Last year, Jarod left a job that pays $60,000 to run his own bike repair shop. Jarod's shop charges $65 for a repair, ond last year the shop performed 4,000 repairs Jarod's production costs for the year inctuded rent, wages, and equipment jarod spent $50. o00 on rent and $100,000 on wages for his employees. Jarod keeps whatever profit the shop earns but does not pay himself an official wage Jarod used $25,000 of his savings to buy a machine for the business. His savings were earning an annuaf interest rate of 6 percent Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (.) in front of those numbers. a. What is Jarod's annual accounting profit? b. What is Jarod's annual economic profit

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