[1] After working as a head chef for years, Jared gave up his $60,000 salary to open his own restaurant last year. He withdrew $50,000 of his own savings that had been earning $2,000 in interest annually. Jared also borrowed another $100,000 from a bank at an interest rate of 5%. As the restaurant space he was leasing had no separate ofce, Jared converted his basement apartment into ofce space. He had previously rented the apartment to a student for $4,000 per year. Last year, the total revenue of the restaurant was $590,000. Other costs included employee wages of$ 120,000, materials costs of $350,000, utilities $10,000, and rent of $25,000. Calculate the accounting prot as well as the economic profit for Jared's restaurant. Accounting prot Economic prot [2] The owner of a company receives all the occonnfing pi'of earned by her rm w a $28,000 salary, an explicit cost for the company. She has an offer of $35,000 a year working for a large corporation. If she had invested her capital outside her own company, she would have earned $22,000 this year. If accounting prot for the year was $50,000, what is the economic prot? [3] List any two fired costs and any t voi'iooie costs associated with owning and operating an automobile. Also explain how you decided which costs are fixed and which ones are variable in this particular case