The heat loss through the windows of a home is estimated to cost the homeowner \(\$ 412\) per year in wasted energy. Thermal windows will reduce heat loss by 93 percent and can be installed for \(\$ 1,232\). The windows will have no salvage value at the end of their estimated life of 8 years. Determine the net present equivalent value of the windows if the interest rate is 10 percent.

a. \(\$ 412\)

b. \(\$ 812\)

c. \(\$ 1,044\)

d. \(\$ 1,834\)