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Sydney is interested in starting a new business, but would have to give up a job with a total compensation of $100,000 per year. After researching the new business opportunity, Sydney developed the following estimates.
Annual Revenues: ...................$300,000Wages and payroll taxes (not including Sydney's): ......$100,000Benefits: ......................$25,000Supplies and materials costs: ..............$75,000Rent: ........................$60,000
What is Sydney's economic profit?
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