View previous attempt Use the following information to answer the next question. Harvey quit his job at State University where he earned $45,000 a year. He figures his entrepreneurial talent or foregone entrepreneurial income to be 5,000 a year. To start the business, he cashed in $100,000 in bonds that earned 10% interest annually to buy a software company Extreme Ga ngh the first year, the firm sold 11,000 units of software at $75 each. Of the $75, $55 goes for the costs of production, packaging, marketing, employee wages and benefits, and rent on a building. What is the economic profit generated by Extreme Gaming in the first year?
A. $155,000
B. $160,000
C. $220,000
D. $280,000