Rita quit her job as dentist where she earned $150,000/year and converted a house that she owns into a museum for her collection of clocks. Before doing this, Rita had been renting the house out for $20,000/year. Rita hired 2 employees for her museum at a total cost of $50,000/year, and had to pay $10,000/year for utilities.   Her museum brought in revenues of $125,000 the first year. Someone even offered her $1,000,000 to purchase her entire collection of clocks. She declined this offer.   1) What is Rita's accounting profit during the year? 2. What is Rita's economic profit? Please explain

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