8. Jay is evaluating two career choices: i. Becoming an investment banker and working for 30 years. He expects the annual salary starts at $12,000 and grows at 3% each year ii. Opening a jazz bar which requires an upfront investment of $8,000 and will generate $16,000 each year Given the discount rate is 8%, how many years does he need to operate the jazz bar, so it is an equally good option, if not better, compared with a career in the investment banking industry? a) 38 b) 39 c) 40 d) 42