Relevant costs Assume that you are about to graduate from your university and are deciding whether to apply for graduate school or enter the job market. To help make the decision, you have gathered the following data:

Costs incurred for the bachelors degree	$97,800
Out-of-pocket costs for a masters degree	$56,400
Estimated starting salary with B.A	$29,640
Estimated starting salary with M.A	$40,080
Estimated time to complete masters degree	2 years
Estimated time from the present to retirement	40 years

a. Which of these factors is relevant to your decision?

	Relevant?
Costs incurred for the bachelors degree	AnswerYesNo
Out-of-pocket costs for a masters degree	AnswerYesNo
Estimated difference between starting salary with B.A and an M.A.	AnswerYesNo
Estimated time to complete masters degree	AnswerYesNo
Estimated time from the present to retirement	AnswerYesNo

b. What is the opportunity cost associated with earning the masters degree? $Answer

c. What is the out-of-pocket cost to obtain the masters degree? $Answer

d. Should other factors be considered before making a decision? AnswerYesNo