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Zippy is earning $40 comma 00040,000 per year working for Joe's Car Repair. He also has savings of $100 comma 000100,000, on which he is
Zippy is earning
$40 comma 00040,000
per year working for Joe's Car Repair. He also has savings of
$100 comma 000100,000,
on which he is earning 10% annual interest. He decides to leave Joe's Car Repair to invest his savings in starting his own car repair business.In the first year, Zippy's Speedy Car Repair earns revenues of
$200 comma 000200,000
and has explicit costs of
$75 comma 00075,000.
Zippy's economic profit (or loss) in the first year is
$enter your response here.
(Round your answer to the nearest dollar.)
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