Suppose Amin Has a Job That Pays Him $87 000

Multiple Choice

Suppose Amin has a job that pays him $87 000 per year (after taxes) .He is considering taking an unpaid leave of absence from his job to complete a 12-month MBA program.Tuition is $75 000 and books and materials will cost $5000.Living expenses for the 12-month period will be cheaper by $500 per month,mostly due to lower apartment rental costs.What is the opportunity cost of Amin's 1-year MBA program?

A) $75 000
B) $76 000
C) $161 000
D) $167 000
E) $175 000