You are offered a five year research assistant ship to earn your PhD after you recieve your BS degree. The assistantship will pay you $2,600 per month (a stipend) starting in June after your BS graduation. If you enter industry right now, your starting annual salary will be $73,000 and you can expect annual salary increases of 3.0%. After 3 years, your thesis advisor, who has a small hi-tech company in the area of your thesis research, offers you the opportunity to work 60 hours a month in the company at $40 per hour. The commitment in time will extend your PhD research by one year, to a total of 6 years. You accept the offer which allows you to keep your assistantship stipend, and to increase your monthly income. If you consider the loss of earnings due to the six year PhD degree program an investment, how much more should you reciee in annual salary if you want to recover your investment in the 10 years following the receipt of your PhD degree? Use 6% compounded monthly for calculations.