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4. Suppose you are constructing a new house and already have electricity run to the property. It will cost $1,000 to install an electrical system
4. Suppose you are constructing a new house and already have electricity run to the property. It will cost $1,000 to install an electrical system with 100% efficiency. Installing a gas line will have an initial cost of $10,000 and 90% efficiency. The house takes 30 million BTU to heat per year. Electric costs $.08 per kWh while Natural Gas will cost $1.15 per therm. Over the course of 10 years which is the least costly option?
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