a. [1 point] update the prices of the fuels to properly reflect the true cost in 2022. (FYI: 1 cord of wood in Halifax delivered is $300). (For the other fuels, you will need to cite your sources, and it certainly wont hurt to double check with me} HEATING OIL: many firms provide this service (you can also search in statscan) Natural gas: heritage gas Electricity: NS power Propane: about $0.7/L b. [3 points] most home owners have old oil furnace in non-efficient homes with an old electric water heater (4 persons). Specifically: Furnace/Boiler/Stove -Avg (with 65,000 BTU home) The replacement cost of this unit is $6,500 ( for home heating and hot water) and would be 95% efficient. Life span is 20 years. The complete replacement cost to switch to Natural Gas is $10,000 (for home heating and hot water) and would be 96% efficient. And the life span is 15 years, with a replacement cost after that of $5,000. Can you make a time line of events (showing the cost), for the two options: replacing the oil furnace with a new efficient version or switching to natural gas. The expected life remaining on the current furnace is 3 years. Do: 1. Time line for switching to NG combi boiler (on demand) after 3 years 2. Time line for switching to new efficient oil and efficient electric water heater after 3 years c. [3 points] if the discount rate is 4%, calculate the NPV for both options (there is essentially no benefits, just cost, I don't think a lot of people gain utility by looking at their furnaces) d. [3 points] * *hard"* given what you found in b and c, what would be the breakeven point for a household to make the switch from oil (heating oil and water is electric) to NG (both heating and water are on NG)? Express it in number of years before replacement. (possible you find no advantage to switching - however unlikely) Ex: given that a family has an oil heater and electric hot water tank, they should switch to NG if the lifespan of the oil furnace and electric water heater are X years old. (X could be 15, so that you would have 5 years left if life)