26. Ephraim is pursuing a master's in business administration with a concentration in human resource management. An MBA will take him one year, and the program would cost him $19,044 in tuition and fees and $1,200 in textbooks. After graduation, if he expects to earn the following (cash flows) estimated salary, what is his future earnings projection in today's dollars (net present value of his expected salary)? (Assume an inflation rate of 3.8% as of May, 2024). Time Year 1-5 Year 6-10 Year 11-15 Year 16-20 Year 21-45 Expected Salary $55,000 $60,000 $70,000 $80,000 $100,000