Micah has decided to leave his $70,000-a-year landscape design job and open a new kayak business. His insurance cost is expected to be $2,000 per year. The kayaks he owns are valued at $25,000, but he experiences 20% annual depreciation on them. He will also use building space that he owns, but to do so, he must give up the $20,000 per year in rent he used to receive for the space. He forecasts first-year revenue to be $100,000. Micah's estimated accounting profit is

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The Answer of Micah has decided to leave his $70,000-a-year landscape design job and open a new kayak business. His insurance cost is expected to be $2,000 per year. The kayaks he owns are valued at $25,000, but he experiences 20% annual depreciation on them. He will also use building space that he owns, but to do so, he must give up the $20,000 per year in rent he used to receive for the space. He forecasts first-year revenue to be $100,000. Micah's estimated accounting profit is

Micah Has Decided to Leave His $70,000-A-Year Landscape Design Job