Your answers should be descriptive enough to explain the economic terms where applicable. 1. In 2020, Somesh was a school teacher and earned Rs. 150,000. But he enjoys creating cartoons, so at the beginning of 202] , Somesh quit teaching and set to work as a cartoonist. He stepped renting out his apartment for Rs. 20,000 a year and began to use it as his ofce. He used Rs. 60,000 from his savings account to buy a new computer and he leased a printer for Rs. 2,500 a year. During 2021, Somesh paid Rs. 12,500 for paper, utilities and postage; the bank paid ve percent a year on savings account balances; and Somesh sold Rs. 250,000 of cartoons. Normal prot is Rs. 30,000 a year. At the end of 2021, Somesh was offered Rs. 34,000 for his computer. For 2021, calculate Somesh's: a. Explicit costs. (4 Marks) 1). Implicit costs. (4 Marks) c. Economic prot. (4 Marks)