please assist

A paper piblished in the Hanard Business Revew points out a new way to calcusate economic profit that could be more appropiate for service firms and other people-intenisive companies instebd of focusing on investment and refurn on investment, the focus is on employee productivity, in terts of both generating revenues and reducing easts. The opproach is to first determine economic profit in the conventional way, except that we ignore taxes so that economic profitis before tax, as follows: Economic profit = Operating profit Capital charje Assume the following information for a hotel chain that wishes to adopt the new metiod. The firm has 5100 mation in operating profit. has $1 bition in investment, and uses a cost of capital rate of 57 , 50 the capital charge is 550 miliant and the economic profit is 550 milliod. Relcvant calculations are contasined in Part 1 of the following schedule The next step is 10 decompose econamc ptolit using renployee prodiactirit lo do then we frat deteiminte coetating prant before personnel costs (OPBP? OPEP i Operating profit + Personnel costs $400,000=$100000+$300000 because there are 10,000 eraployees, OPBP as $40000 pet empiayee and the capital charge is $5000 per etnpioyee so that productivity i5 $35,000 ser employee. The thest step is to determine personner cost per employee, $30,000 and economic proft for af cmployees is thus $5,00010000. or $50 milion, the same amount as determined in the conventional way. The valuet of the decoungesition of econcenic pecit into enployte productivity and personnel coals per employee is that it provides measeres that the hotel chair can bencimark to other hotei chairn it also prowides a cireet measure of the predit that is beigg generated per employee relative to the average personisel cost for each eniployee. Measures of revenue per employeet and personnel cost per employee are widey used the hoscital, heanh and humant services, and osher people-oriented service industries Required: Use the above approach and assume a chain of residential care facilites eriploys 10 co0 pespie, has a cost of capital of. 5% and thas the following informabior (000s) Determine the productivity per employee, peisonnel costs per emplayee, and ecconamic profit per employee. (Enter your answers in thousands.) 6 Answer is cornplete but not antirely crirrect