Dave's Batting Cages Is Located in Boston, Massachusetts

Dave's Batting Cages is located in Boston, Massachusetts. During the first year of operation, Dave's Batting Cages incurred many costs. In that year, Dave spent $5,000 on labor, $2,000 on maintenance, and $1,000 on electricity. Dave took out a loan to open his business, in which he would have earned $1,500, and his previous job, which he could get back at any time, paid him $50,000. Dave's Batting Cages incurred _________ in explicit costs.

A) $9,500
B) $7,000
C) $51,500
D) $8,000
E) $50,000