What is the cost benefit analysis of getting your masters degree? Include the opportunity cost of pursuing the degree as well as the accounting costs like books, tuition, transportation etc. Also need to discount the future value of expected raises, promotions etc. Using data below;
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Pay
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Do Nothing
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(benefit)
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(cost)
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(benefit)
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(cost)
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Current Salary
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$50,000
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$40,000
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Potential Salary
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$25,000
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$10,000
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Tuition
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$19,800
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N/A
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Books/Admin
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$2,200
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N/A
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Gas/Tolls
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$2,000
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N/A
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Fast Food
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$1,000
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N/A
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Total Benefit
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$40,000
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$50,000
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