Perform a Net Present Value Analysis for a Project Learning outcome: Student is able to apply NPV analysis to project decisions. Assume a student is planning to pursue a two year masters degree in project management. There are two educational choices the student is considering, with investment and cash flows as follows:

Choice A: Full-Time Education:

Example cash investment: $100,000. Currently the student is earning $30,000. Upon graduation the student hopes to earn $60,000 per year in new job. Student will quit the current job.

Choice B: Part-Time Education:

Currently the student is earning $30,000. The student can work part-time for three years at a salary of $20,000 while studying towards the masters degree in project management. Upon graduation the student anticipates a possible increase in salary by $10,000 (total $40000) in the same company.

Calculate the NPV for each educational option and decide which option the student should invest in. The discount rate is 8%. Explain why choice A or choice B was recommended: make assumptions as needed