A high school graduate has to decide between working and going tocollege. If he works, he wil work for the next $50$ years of his life. If he goes tocollege, he wil be in college for $5$ years, and then work for $45$ years. In this model,the rate of discount that equates the lifetime present value of not going to collegeand going to college is $8\mathrm{.}24\%$ when the cost of each year of college is $$15,000,$ eachyear of non$-$college work pays $$35,000,$ and each year of post$-$college work pays$$60,000.$ For each of the parts below, choose how the rate of discount thatequalizes the two options would change?$($i$)$ Each year of college still costs $$15,000$ and each year of post$-$college work stillpays $$60,000,$ but each year of non$-$college work now pays $$40,000.$a$)$ Increase b$)$ Decrease c$)$ No change$($ii$)$ Each year of college still costs $$15,000$ and each year of non$-$college work stillpays $$35,000,$ but each year of post$-$college work now pays $$80,000.$a$)$ Increase b$)$ Decrease c$)$ No change$($iii$)$ Each year of non$-$college work and post$-$college work still pays $$35,000$ and$$60,000$ respectively, but now each year of college costs $$35,000.$Cancrease b$)$ Decrease c$)$ No change