Hua Xing forgoes a job with an annual salary of $80,000 to start her own interior design company. She invests $30,000 of her own savings in the company, which means forgoing the $3,000 per year that she has been earning on those savings. During her first year in business, Hua Xing's firm collects revenue of $250,000 and pays out $160,000 in expenses. What is Hua Xing's economic profit or loss situation at the end of her first year in business? Provide the specific amount of economic profit or loss, and explain how you arrived at that conclusion.

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The Answer of Hua Xing forgoes a job with an annual salary of $80,000 to start her own interior design company. She invests $30,000 of her own savings in the company, which means forgoing the $3,000 per year that she has been earning on those savings. During her first year in business, Hua Xing's firm collects revenue of $250,000 and pays out $160,000 in expenses. What is Hua Xing's economic profit or loss situation at the end of her first year in business? Provide the specific amount of economic profit or loss, and explain how you arrived at that conclusion.

Hua Xing Forgoes a Job with an Annual Salary of $80,000