Imagine the decision faced by Claire, who is thinking of going back to school at the age of 50. Without a college degree, she will make $10/hour. With a college degree, she will make $14/hour. She can get a free ride to college (no tuition or other expenses) and college takes 4 years to complete during which time she can't work. She plans to retire at 65. The discount rate is 5%. What is the Net Present Value of going back to school?

What is the "break even" college wage above which Claire will go to college, holding the High School wage constant at $10/hour?