Suppose you own a self-storage facility. Each storage unit is lit by one or two lightbulbs, depending on size. A typical 60-watt incandescent bulb costs $0.45 and lasts for 1,000 hours. A 15-watt CFL equivalent, providing the same lumens or measure of light, costs $3.40 and lasts 12,000 hours. A kilowatt-hour (kwh) of electricity costs $0.121 in the municipality where your storage facility is located. (A kwh is 1,000 watts of electricity for one hour.) If your firm requires a 10% return on invested capital and expects most of its light fixtures to be used only 50 hours per year, compute the EAC of each lightbulb.