Question: Layne currently earns $ 4 0 , 0 0 0 as an unskilled laborer and is planning to work 3 more years before retirement. He

Layne currently earns $40,000 as an unskilled laborer and is planning to work 3 more years before retirement. He has discovered that if he goes to school full-time (he cant work and attend school simultaneously) for 1 year to complete a certication program, he can return to work and earn $65,000 per year. The cost of the certication program is $3,000, and the current interest rate is 4%. What is the present value of each option? Would the certication program be a good investment for Layne?

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