In September 2019 BU paid $30,000 per year to workers who cleaned dormitories and also to workers who cleaned hospital rooms. In September 2020 it will be able to hire all the dorm cleaners it needs for $30,000 but it will need to pay $40,000 to hire hospital cleaners. Assume that there is no chance of getting sick from COVID-19 for dorm cleaners but a 20% chance for hospital cleaners. Also, assume that 2% of hospital workers who get sick will die. Also assume that the cost of getting sick is $10,000, including the cost of pain and suffering and out-of-pocket medical expenses not covered by the medical insurance that BU provides. What is the value of life implied by these assumptions?

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