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CenTer Realty is a recently founded commercial and residential real estate company. CenTer grossed $3,000,000 in revenues last year, while incurring $1,000,000 in operating expenses and $300,000 in income taxes. CenTer Realty owned and occupied an office building in downtown Kansas City. The building could have been leased to other businesses for $500,000 in lease income last year. The owner of CenTer Realty invested $4,000,000 of his own money that could have earned a 10 percent rate of return on funds invested elsewhere. He also left a job as a realtor, where he earned $200,000 the previous year. Q 1 Question 1 Last year, CenTer Realty’s total explicit costs of using market-supplied resources are $. Q 2 Question 2 CenTer’s total implicit costs of using owner-supplied resources equals $ last year. Q 3 Question 3 CenTer’s accounting profit was $ Q 4 Question 4 Economic profit last year was
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