Consider a worker with a working life span between t = 0 and T (continuous time). If s/he starts working at t = 0, s/he gets the wage w₁ per period. During the initial period of [0, x], s/he goes to school with cost (s) per period. After the schooling, s/he gets the wage w₂ per period (w₂ > W₁). a. Assuming the discount rate is p, determine the net present value (NPV) of the wage for the worker's whole life when s/he starts at t = 0. b. Determine the NPV when s/he gets education first, and starts to work at t = x. c. Assuming the NPV for the two cases are the same, and T = [infinity], derive In W₂ = In W₁ + ps. d. Explain how one can estimate the rate of return of schooling from the above equation.