First, let us collect some real data.An obvious source is the Statistics Canada web site: http://www.statcan.gc.ca. From the home page,choose English (Francais), then Labour (Travail), then Wages, salaries and other earnings (Salares,traitements et autres gains), then Summary tables (Tableaux sommaires) and finally the table Averageearnings of the population 15 years and over by highest level of schooling, by province and territory (2006Census) (Gains moyens de la population ge de 15 ans et plus selon le plus haut niveau de scolaritattaint, par province et territoire, Recensement de 2006 where you click on View. With these data,calculate the NPV and IRR of university education (Bachelors degree) for a high school graduate in 2005(i.e., someone with certificate or diploma below bachelor level) in Canada. Assume that average annualearnings will remain constant forever, but the 4-year university tuition and fees will start at $5,000/yearand then grow at 5% each year. Also assume that the undergraduate will still live at home but will pay$1200/year for transportation/parking (also growing at 5% each year). In addition, assume that theopportunity cost of lost wages will be the average earnings/year for a high school graduate in 2005 (i.e.,someone with certificate or diploma below bachelor level) in Canada. Finally, assume the annualdiscount rate is 6%, and after university graduation, one works for 30 years before retirement. You mayassume that all earnings and costs are at the end of the year, and please provide a printout of the relevantweb page for your answer so the marker can see the data you are using.

Additional Info: Bachelor Degree Salary >52,907 | ceritificate diploma salary >30,116