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Question 2 (6 pts): You are comparing two types of light bulbs - the LED bulb...

Question 2 (6 pts): You are comparing two types of light bulbs - the LED bulb and incandescent bulb (assume they have the same light intensity). If you turn on the light bulb for 4 hours/day and the electricity price is $0.1/kWh. Which light bulb is a better choice for 10 years? The Interest rate is 4% (this is also known as the discount rate). You can assume used bulbs have no resale value.

Alternatives LED Bulb Incandescent Bulb
Price $3.24/ bulb $1.25/ bulb
Wattage 7.5 Watt 60 Watt
Useful life 3 years 2 years
End-of-life salvage value $0 $0

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