During a year of operation, a firm collects $1,200,000 in revenue and spends $865,000 on raw materials, labor expense, u

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During a year of operation, a firm collects $1,200,000 in
revenue and spends $865,000 on raw materials, labor expense,
utilities, and rent. The owners of the firm have provided $250,000
of their own money to the firm instead of investing the money and
earning a 9.5 percent annual rate of return. Treat income tax as an
explicit cost of doing business.During a year of operation, a firm
collects $1,200,000 in revenue and spends $865,000 on raw
materials, labor expense, utilities, and rent. The owners of the
firm have provided $250,000 of their own money to the firm instead
of investing the money and earning a 9.5 percent annual rate of
return. Treat income tax as an explicit cost of doing business.