Question 8 Homework Unanswered You are considering installing solar panels on your roof, which you expect will reduce your utility bill by $1400 in the first year (assume end of year), with the savings growing at a 3.1% annual rate thereafter for the foreseeable future (assume perpetual). If the installation costs $14,000 after all federal and state tax credits and the appropriate discount rate is 12%, what is the NPV of this investment? Round to the nearest cent. (Hint: Think of the reduction on your bill as positive cash inflows from the project. For the PV of the growing perpetuity, recall the formula we used for the terminal value of stocks: PV = Next year's cash flow/ (discount rate-growth rate) Type your numeric answer and submit