Russell has a business creating metal pieces of art. His supplies, rent, insurance, etc. cost him $5,000 per year. His machines and tools were inherited from his father, and were recently appraised to be worth $40,000. He also inherited the shop he works in and has been offered $15,000 per year to rent outthe shop if he doesn't use it.Russell is trained as a welder and has been offered work at $30 per hour for any number of hours he wishes. Russell currently works 2,000 hours in his own shop and he can produce 860 art pieces in that time. He currently works 500 hours at the $30 per hour job. Calculate a new economic and accounting profit for each change, or explainwhy either or both profits don't change. (note: Consider (i) and (ii) separately) .

i) There is suddenly an increase in the amount of shop space in the area and the amount he has been offered to rent the shop in only $10,000 (1 point)

ii) Russell pays someone $55,000 to produce the 860 artworks. Russell uses that time to work at the other job.