Question: James used $ 2 5 0 , 0 0 0 from a savings account that paid an annual interest of 1 5 % to purchase

James used $250,000 from a savings account that paid an annual interest of 15% to purchase a hardware store. After one year, James sold the business for $320,000. What is the accounting profit?
$320,000
$70,000
$282,500
$32,500

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