You are a professor of economics at a university. You've been offered the position of serving as department head, which comes with an annual salary that is $7,500 higher than your current salary. However, the position will require you to work 200 additional hours per year. Suppose the next best use of your time is spending it with your family, which has value of $30 per hour.

What is the difference in the net benefit from becoming the department head?