Question: Suppose, as in Problem 21-4, that you have now operated your consulting firm for a year. At the end of the first year, your total

Suppose, as in Problem 21-4, that you have now operated your consulting firm for a year. At the end of the first year, your total revenues are $77,250. Based on the information in Problem 21-4, what is the accounting profit, and what is your economic profit?

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