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Transcription of this question: 3.(a)(b)(c)Describe two benefits, to Mr Carroccio, of owning his shoe repair business as asole trader.Using the additional information below, calculate:(i) the average rate of return (ARR), for setting up Mr Carroccio’s shoe repairbusiness (show all your working);(ii) the payback period, for setting up Mr Carroccio’s shoe repair business (show allyour working).Using your answers to part (b) and information contained in the case study, analyse theissues that Mr Carroccio faced when he set up his shoe repair business.[2][2]

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