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A 2,000 square foot house in New Jersey costs $1,725 each winter to heat with its existing oil-burning furnace. For an investment of $5,000, a

A 2,000 square foot house in New Jersey costs $1,725 each winter to heat with its existing oil-burning furnace. For an investment of $5,000, a natural gas furnace can be installed, and the winter heating bill is estimated to be $1,000. If the homeowners MARR is 6% per year, what is the simple payback period of this proposed investment?

a.

5 years
b.

6 years
c.

7 years
d.

8 years
e.

9 years

f. 10 years

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