Samantha has been working for a law firm and earning an annual salary of $80,000. She decides to open her own practice. Her annual expenses were $15,000 for office rent, $1,000 for supplies, $1,200 for utilities, and a $35,000 salary for a secretary/bookkeeper. Samantha covered her start-up expenses (purchasing furniture and equipment) by cashing in a $20,000 certificate of deposit on which she was earning annual interest of $500. Her practice generated$120,000 revenue in the first year.

Show all your calculations

A) Calculate Samantha's Implicit costs. (2 points)

B) Calculate Samantha's explicit costs.(2 points)

C)Calculate Samantha's Economic costs.(2 points)

D) Calculate Samantha's Accounting profit (2 points)

E) Calculate Samantha's Economic profit.(2 points)