Zippy is earning

$40,000

per year working for Joe's Car Repair. He also has savings of

$100,000

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

$200,000

and has explicit costs of

$75,000.

Zippy's economic profit (or loss) in the first year is ?

$enter your response here.

(Round your answer to the nearest dollar.)