1. Suppose that at your university, you will pay $25,000 each year for tuition, $1000 each year for textbooks, and $20,000 per year for renting an apartment. Before you left for college, your boss at Panda offered you a job as an Assistant Manager paying $60,000 per year. Assume that if you decided not to go to college, your parents would NOT let you live at home. What is your opportunity cost in completing an undergraduate education in four years?