A 300-ft-long section of a steam pipe whose outer diameter is 4 in passes through an open space at 50°F. The average temperature of the outer surface of the pipe is measured to be 280°F, and the average heat transfer coefficient on that surface is determined to be 6 Btu/h·ft²·°F. Determine

(a) The rate of heat loss from the steam pipe

(b) The annual cost of this energy loss if steam is generated in a natural gas furnace having an efficiency of 86 percent, and the price of natural gas is $1.10/therm (1 therm = 100,000 Btu).