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Q. Gomez runs a small pottery firm. He hires one helper at
$12,000 per year, pays annual rent of $5,000 for his shop, and
spends $20,000 per year on materials. He has $40,000 of his own
funds invested in equipment (pottery wheels, kilns, and so forth)
that could earn him $4,000 per year if alternatively invested. He
has been offered $15,000 per year to work as a potter for a
competitor. He estimates his entrepreneurial talents are worth
$3,000 per year. Total annual revenue from pottery sales is
$72,000.

Calculate the Accounting and Economics profits for the
firm.