Determine the alices economic profit is equal to what

Reference no: EM13204074

Alice used to work as a teacher but has decided to set up her own cake factory after watching Masterchef. As a teacher Alice earned $50,000 per annum. The cost of materials used to make cakes is equal to $10,000 per annum and in addition, Alice invested $200,000 of her own money into the cake factory that had been earning 5% interest per annum. In her first year of business Alice sold 75,000 cakes at $1 each. Alice's economic profit is equal to?

Reference no: EM13204074

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