Many police officer positions require the applicant to have a college degree, even though the tasks of a police officer rarely call upon coliege course material. Suppose two individuals who do not have college degrees are considering applying to the polce force. Alex is considering applying for an ofticer position ard plans on working for the police force for a period of time, over which he would earn approximately $7,000 (in present discounted value) in earnings while in the potition. 5u san is also considering applying, and plans on working as an officec for a period of time, over which she would earm approximately $560,000 (in present discounted value) in lifetime eamings while in the pasition. Also suppose that present value of obtaining a college degree, which is required to submit a job application to the police department, is 870,000