Assume that Adam has a third alternative to consider: entering a two-year apprenticeship program for skilled machinists
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Assume that Adam has a third alternative to consider: entering a two-year apprenticeship program for skilled machinists that would, upon completion, make him a licensed machinist.
During the apprenticeship, he earns a reduced salary of $15,000 per year. At the end of the apprenticeship, the value of his lifetime earnings is $725,000. What is Adam’s best career choice?
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