Joe decided to quit his computer-programming job (where he was earning $48,000 per year) to start his own software business. for his office, joe will use a two-story building that he bought 7 years ago for $250,000. the building is located in hyde park (south side of chicago) in an area where a lot of recent construction has taken place, so the market price for the land has increased. you are given the following information about the costs of his firm: joe will pay himself a wage of: $18,000 per year maintenance and insurance $30,240 per year revenue $96,000 per year land’s salvage (resale) value $395,000 risk-free interest rate 4.75% annually assume for simplicity that all taxes are equal to zero. calculate the economic annual profits of this firm (you can assume that investing the money at the risk-free rate is its best alternative use). a. 47,760 b. -1,002.5 c. 47,741.2 d. 14,843.3 e. none of the above