Suppose you have two job offers upon graduating from Marietta College. One offer is from a company in Cleveland for $45,000 per year. The other offer is from a company in Boston for $60,000. Assuming that all other aspects of the two jobs are identical and that you are motivated solely by monetary rewards, which job offer will you select and why? (Show any necessary calculations as a part of your answer.)
Congratulations to Alissa Bamberger for being the first to recognize that the lower nominal job offer in Cleveland is the more lucrative of the two when adjusted for inflation (see her answer in the comments section).