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You plan to replace the gas based boiler at your home with an eco-friendly solar water heater that costs 4,000. The boiler manufacturer, as part
You plan to replace the gas based boiler at your home with an eco-friendly solar water heater that costs 4,000. The boiler manufacturer, as part of its corporate social responsibility, is offering a 20% discount for the eco-friendly water heater. The expected cost saving from the water heater is 150 every year. The risk free interest rate is 3%. What is your payback period?
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