Joe quits his computer programming job, where he was earning a salary of $70 comma 000 per year, to start his own computer software business in a building that he owns and was previously renting out for $24 comma 000 per year. In his first year of business he has the following expenses: salary paid to himself, $35 comma 000; rent, $0; and other expenses, $35 comma 000. Find the accounting cost and the economic cost associated with Joe's computer software business. (Enter numeric responses using an integer.) The accounting cost of Joe's business is $ 24,000 24,000. (Enter your response as an integer.)
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Joe quits his computer programming job, where he was earning a salary of $70 comma 000 per year, to...
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