A student is trying to determine if an MBA makes sense for his career. He is considering two options for his life.

The first option is to attend a school for his MBA for the next three years. The MBA will cost $$36,226\mathrm{.}00$ per year. After school is over, he will make $$84,474\mathrm{.}00$ per year. He expects his salary to grow at $4\mathrm{.}00\%$ a year for $28\mathrm{.}00$ years after the MBA.

The second option is to stay in his current job. He currently makes $$60,797\mathrm{.}00$ per year. If he does not get an MBA, he expects his salary to grow at $3\mathrm{.}00\%$ for the next $31\mathrm{.}00$ years.

The student can earn $7\mathrm{.}00\%$ per year on his investments. For simplicity, let's assume all cash flows are at the end of the period $($including MBA tuition$).$

What is the present value of the MBA option?

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Answer format: Currency: Round to: $2$ decimal places.

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