you quit your job as a manager to start your own business. you gave up a salary of $40,000 per year, invested her savings of $30,000 (which was earning 5 percent interest) and borrowed $10,000, agreeing to pay 5 percent interest per year. in your first year, you spent $18,000 to rent an office, hired a part-time assistant for $12,000 and paid another $15,000 on equipment. based on this information, what is the amount of your explicit costs? a) $45,000 b) $45,500 c) $47,000 d) $87,000