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A homeowner is replacing his old natural gas furnace that has an overall system efficiency of...

A homeowner is replacing his old natural gas furnace that has an overall system efficiency of 57% and requires 105,500 MJ/yr to operate (Required Input). The homeowner is considering replacing the old furnace with either a conventional furnace with an efficiency of 82%, which costs $1600, or a high efficiency furnace with an efficiency of 95%, which costs $3000. Compare the total operating costs (furnace cost + operating costs) over 5, 10, and 15 years to determine which unit the homeowner should buy (lowest total operating costs). Note: The cost of natural gas can be taken as $1.20/therm (1 therm =105,500 kJ)

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