Cynthia Good already has credits toward a MBA degree from Edgewater University and thinks that she can finish the degree requirements in one year. To do this, however, she must give up her job that pays a salary of $25,000 per year. Living costs, whether or not she returns to complete the degree requirements, are estimated at $16,000 for the year. In addition, the costs of tuition and books at the university will amount to
$9,000.

Required:
Write a memo to Good highlighting her opportunity cost if she decides to return to school. What are the relevant and irrelevant costs of the decision? Include comments on any information that is missing that is critical to her decision.