A chemical plants uses process steam that is supplied from a remote boiler house. The steam pipe is un-insulated and is currently estimated that the energy losses amount to $3,750 annually. The minimum rate of return is 10% and the fuel costs are expected to increase by 8% annually. Determine the present worth of the energy loses for a period of 15 years. a) 45,114 b) 46,114 c) 43,114 d) 44,114