In October 2018 JPMorgan Chase & Co., an American multinational investment bank and financial services company, announced third-quarter profits of $8.38 billion. This implies

A. an economic profit of $8.38 billion with a lower accounting profit.

B. an accounting profit of less than $8.38 billion.

C. an accounting profit of $8.38 billion with a lower economic profit.

D. an accounting profit of $8.38 billion with a higher economic profit.

E. None of the above.

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