5. Grad school or not? Your friend, a 25-year old undergraduate ME student, is attempting to make an economic case for graduate school. A. No Grad School: She gets a job that pays $66,000 per year and starts working immediately upon graduation. This salary will increase at the rate of 3% per year for the next 40 years at which point she will retire. B. Grad school: She spends two years in grad school and pays $15,000 per year for the program out-of-pocket. Upon graduation, she gets a job that pays $75,000 per year. This salary also increases at the rate of 3% per year for the next 38 years at which point she retires. C. Grad school delayed: She gets a job that pays S66,000 per year. This salary increases at the rate of 3% per year. After 3 years of working, she quits her job, and goes to grad school for two years. Cost of grad school is $17,000 per year. Upon graduation, she gets a job that pays $84,000 per year. This salary also increases at the rate of 3% per year for the next 35 years. I. Draw the cash-flow diagrams for the two options. II Determine the present value of the options. III. Determine which is the better option. IV. In EXCEL, determine after how many years does one option become more attractive than the other. Assume an annual interest rate of 5% to do all present worth calculations