Question: After earning an MBA, a student will begin working at an $80,000-per-year job on September 1, 2005. She expects to receive a 5 percent raise

After earning an MBA, a student will begin working at an $80,000-per-year job on September 1, 2005. She expects to receive a 5 percent raise each year until she retires on September 1, 2035. If the cost of capital is 8 percent a year, determine the total present value of her before-tax earnings.

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