Explain why accounting profit provides very useful information. Explain why economic profit provides very useful information. GM’s net income in 2010 was $4.7 billion. What would its accounting profit...

Explain why accounting profit provides very useful information. Explain why economic profit provides very useful information. GM’s net income in 2010 was $4.7 billion. What would its accounting profit be if its cost of equity capital was $5 billion? What would its economic profit be if its cost of equity capital was $5 billion?