Michiko and Saul are planning to attend the same university next year. The university estimates…

Michiko and Saul are planning to attend the same university
next year. The university estimates tuition, books, fees, and living costs to
be $12,000 per year. Michiko’s father has agreed to give her the $12,000 she
needs to attend the university. Saul has obtained a job at the university that
will pay him $14,000 per year. After discussing their respective arrangements,
Michiko figures that Saul will be better off than she will. What, if anything,
is wrong with Michiko’s thinking?