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Revenues Revenue from sales of goods and services $80,000,000 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 ..... $43,000,000 Interest expense (corporate bonds & loans)... $300,000 Non-recurring expense (Legal expenses/fines in settling a federal antitrust suit)... $200,000 Income taxes . $700,000 Net income ... $41,800,000 1. Quest Realty income statement is given above. During this year of operation, Quest Realty owned and occupied an office building in downtown Indianapolis. For this year, the building could have been leased to other businesses for $2,000,000 in lease income. Quest Realty also owned undeveloped land valued at $15,000,000. Owners of Quest Realty can earn a 14% rate of return annually on funds invested elsewhere. a. Calculate total explicit costs of using market-supplied resources for Quest Realty for this year (10 p) b. Calculate total implicit costs of using owner-supplied resources for Quest Realty for this year (15 p) c. Calculate Quest's accounting profit (5 p) d. Calculate Quest's economic profit (10 p)