Billie decides to purchase a house by withdrawing $15,000 from her ira. billie qualifies as a first-time homebuyer. the $15,000 consists of $12,600 in nondeductible contributions and $2,400 in income earned on the plan's assets. billie will have to pay an early withdrawal penalty of:

Jaynet spends $50,000 per year on painting supplies and storage space. she recently received two job offers from a famous marketing firm – one offer was for $95,000 per year, and the other was for $120,000. however, she turned both jobs down to continue a painting career. if jaynet sells 35 paintings per year at a price of $6,000 each: a. what are her accounting profits? b. what are her economic profits?