Joey receives two job offers: Job A has a starting annual salary of $80,000 and an expected annual salary growth of 7%. Job B has a starting annual salary of $100,000 and an expected salary growth of 5%. Joey is 30 years old and plans to retire when he turns 65. Ignore bonuses, pensions, other compensations and taxes; all cash flows will be made at the end of each year. Joey discounts future cash flows at an effective annual rate of 10%.

1. Which offer has a greater present value?
2. If Joey plans to retire when he turns 55 years old, which offer has a greater present value?
3. If we consider income taxes, could your answers to (a) and (b) be different? Why? Note: qualitative analysis without numbers would suffice for (c).