After earning your bachelor's degree, you have to decide whether to take a job that will pay you $45,000/year or spend an additional two years earning an MBA. If you decide to pursue the graduate degree, your annual expenses from tuition, books, board, and lodging will be $32,000. You have been offered a scholarship for $10,000/year, but to pay the remaining $22,000/year, you would have to cash in savings bonds from your grandparents that have been earning $500/year in interest. The annual opportunity cost of earning your MBA is: