SCENARIO 9.7: Julio borrowed $80,000 from his great aunt to open a coffee stand at a local flea market. He agrees to pay his great aunt a 5% yearly return on the money she lent him. His other yearly fixed costs equal $16,000. His variable costs equal $60,000. He sold 50,000 cups of coffee during the year at a price of $3.00 per cup. 93) Refer to Scenario 9.7. Julio's total fixed costs equal A) $4,000. B) $16,000. C) $20,000. D) $80,000. 94) Refer to Scenario 9.7. Julio's total costs equal A) $20,000. B) $40,000. C) $60,000. D) $80,000.