32. Explicit and implicit costs: Juan and Julia contributed $50,000 of their own money to the company They bought equipm

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32 Explicit And Implicit Costs Juan And Julia Contributed 50 000 Of Their Own Money To The Company They Bought Equipm 1 (157.67 KiB) Viewed 47 times

32. Explicit and implicit costs: Juan and Julia contributed $50,000 of their own money to the company They bought equipment for $3,000 They hired an employee with a salary of $20,000 Juan quit his job where he earned $30,000 Julia quit part of her job where she earned $15,000 Purchases of materials for the business were $10,000 At the end of the year the value of the equipment is $28,000 · A business loan of $100,000 pays 6% annual interest Based on the data, what is the implicit cost?