Your utility company charges 12 cents per kilowatt-hour of electricity. Complete parts (a) and (b) below.

a. What is the daily cost of keeping lit a 50-watt light bulb for 10 hours each day?

b. How much will you save in a year if you replace the bulb with an LED bulb that provides the same amount of light using only 20 watts of power?

Part 1 a. The daily cost of keeping lit a 50-watt light bulb for 10 hours each day is $    enter your response here. (Round to three decimal places as needed.)

Part 2 b. The yearly savings of replacing the 50-watt light bulb with a 20-watt light bulb is $    enter your response here. (Round to two decimal places as needed.)