Norman Dowd owns his own taxi, for which he bought a $11,300 permit to operate two years ago. Mr. Dowd earns $33,900 a ye operating as an independent but has the opportunity to sell the taxi and permit for $43,000 and take a position as dispatcher fo Carter Taxi Co. The dispatcher position pays $34,000 a year for a 40 -hour week. Driving his own taxi, Mr. Dowd works approxim 55 hours per week. If he sells his business, he will invest the $43,000 and can earn a 9 percent return. Required a. Determine the opportunity cost of owning and operating the independent business. b. Calculate the earnings of Norman Dowd operating as an independent and the earnings of Norman Dowd working as a dispat Based solely on financial considerations, should Mr. Dowd sell the taxi and accept the position as dispatcher