Robert Left a Law Firm to Begin His Own Catering

Multiple Choice

Robert left a law firm to begin his own catering business.Robert's salary at the law firm was $100,000.He put $40,000 of his own funds into the business to purchase cooking equipment.His funds were previously earning 10 percent per year.The cost of operating the business including food and supplies was $60,000.Robert's catering firm earned $170,000 in revenues for the first year.Robert's brother insists that he should go back to the law firm, since he was making $100,000 there.Robert says his brother is wrong.Robert is right because

A) he is making $6,000 in economic profits.
B) he is making $110,000 in accounting profits.
C) he is making $106,000 in economic profits.
D) he likes cooking.