decision you would like to know the financial implications of the two alternatives. Let's assume that your alternatives are as follows: years later. little more than $109,000 in lost income over the three years of law school: $35,000 the first year, $36,400 the second year, and $37,856 the third year. at the end of each year so that your first salary payment if you decide to go to law school occurs 4 years from now.) c. If you pay your law school tuition at the beginning of each year, what is the present value of your tuition, assuming a discount rate of 12 percent? a. What is the present value of the future earnings that you will realize by going directly to work, assuming a discount rate of 12 percent? (Round to the nearest cent.) b. What is the present value today of your future earnings if you decide to attend law school, assuming a discount rate of 12 percent? (Round to the nearest cent.) c. If you pay your law school tuition at the beginning of each year, what is the present value of your tuition, assuming a discount rate of 12 percent? (Round to the nearest cent.)