Tim decided to quit from his job as an event manager where he earned RM130,000 a year. Tim sets up a telecommunication business, using his RM600,000 personal savings that earned interest of RM6,000 per year. During that year, he made RM240,000 in total revenue and paid RM13,000 for the costs of equipment, utilities, internet service and office supplies.

(i) Calculate Tim's accounting profit and economic profit. (6 marks)

(ii) "I am not sure if I made the right decision to start this business." says Tim.

Comment on the above statement. (4 marks)