Mavis Chan is currently a Financial Controller of a listed company, and has researched the financial pros and cons of enrolling in a 1-year Executive MBA (EMBA) program at her local university. The tuition and books for the EMBA program will involve an up-front cost of $67,000. If she enrolls in the EMBA program, Mavis will quit her current job, which pays $86,000 per year after taxes (for simplicity, treat any lost earnings as part of the up-front cost). On average, a person with an EMBA degree earns an extra $48,000 per year (after taxes) over a business career of 40 years. Mavis believes that her opportunity cost of capital is 5%. Given here estimates, find the net present value (NPV) of entering this EMBA program. Are the benefits of further education worth the associated costs?