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What is sonya accounting or business profit

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Sonya purchased a tract of land for $100,000. She quit her $30,000-a-year job as a postal employee and opened a skeet shooting range on her land. The range generates $100,000 in revenues each year. She spends $40,000 a year in employee salaries, $20,000 a year in ammunition and supplies for the skeet shooting, and $10,000 in office supplies. Assume that the relevant interest or discount rate is 10 percent

  1. What is Sonya's accounting or business profit? Explain.
  2. What is Sonya's economic profit? Explain.
  3. Assuming that Sonya is indifferent between working as a postal employee and owning a skeet shooting range, should Sonya continue owning the skeet shooting range? Why?

Reference no: EM131438047

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