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4. Internal Rate of Return, Avoided Costs. A 4-watt LED light costs $3 and is estimated to save $0.48 per year in electricity costs
4. Internal Rate of Return, Avoided Costs. A 4-watt LED light costs $3 and is estimated to save $0.48 per year in electricity costs if replacing a 35-watt incandescent light. The light has an estimated lifetime of 20 years. What is the internal rate of return on the investment in the LED light to replace the incandescent light?
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