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A 2,000 square foot house in New Jersey costs $1,500 each winter to heat with its existing oil-burning furnace. For an investment of $5,500, a
A 2,000 square foot house in New Jersey costs $1,500 each winter to heat with its existing oil-burning furnace. For an investment of $5,500, a natural gas furnace can be installed, and the winter heating bill is estimated to be $800. If the homeowner's MARR is 8% per year, what is the discounted payback period of this proposed investment?
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