Revenues

Revenue from sales of goods and services .......................... $100,000,000

Operating costs and expenses:

Cost of products and services sold....................................... $30,000,000

Selling expenses................................................................... $3,000,000

Administrative expense........................................................ $4,000,000

Total operating costs and expenses............................... $37,000,000

Income from operations.............................................................. $63,000,000

Interest expense (corporate bonds & loans) ............................... $500,000

Non-recurring expense (Legal expenses/fines in

settling a federal antitrust suit.............................................. $100,000

Income taxes............................................................................... $740,000

Net income ................................................................................. $61,660,000

Revenues Revenue from sales of goods and services .. $100,000,000 Operating costs and expenses: Cost of products and services sold. $30,000,000 Selling expenses..... $3,000,000 Administrative expense... $4,000,000 Total operating costs and expenses ..... $37.000,000 Income from operations... $63,000,000 Interest expense (corporate bonds & loans) .... $500,000 Non-recurring expense (Legal expenses/fines in settling a federal antitrust suit ..... $100,000 Income taxes..... $740.000 Net income ........ $61,660,000 During this year of operation, Bonus Realty owned and occupied an office building in downtown Cleveland. For this year, the building could have been leased to other businesses for $3,000,000 in lease income. Bonus Realty also owned undeveloped land valued at $10,000,000. Owners of Bonus Realty can earn a 4% rate of return annually on funds invested elsewhere. a. Total explicit costs of using market-supplied resources for Bonus Realty for this year are.... 1/3 b. Total implicit costs of using owner-supplied resources for Bonus Realty for this year are.... c. Total economic cost is.... d. Bonus Realty's accounting profit is.... e. Economic profit for Bonus Realty is