Lemonade Stand Profit Calculation

In a small town, a group of friends decided to open a lemonade stand. They initially bought 2 gallons of lemonade concentrate for $10 each. They estimated that each gallon would make 8 cups of lemonade. If they planned to sell each cup for $1.50, how much total profit will they make after selling all the cups from the two gallons, considering their total initial cost?