During a year of operation, a firm collects $175,000 in revenue and spends $80,000 on raw materials, labor expense, utilities, and rent. The owners of the firm have provided $500,000 of their own money to the firm instead of investing the money and earning a 14 percent annual rate of return. What are the explicit costs of the firm?
Group of answer choices
$175,000
$150,000
$70,000
$80,000