Question: You decide to replace all the lighting in your house from incandescent to LED bulbs. Each 15W LED light bulb costs $18, lasts 10 years,

You decide to replace all the lighting in your house from incandescent to LED bulbs. Each 15W LED light bulb costs $18, lasts 10 years, and uses 75% less energy than its incandescent counterpart. Assume the light bulbs are turned on 30% of the time and the interest rate is 4%. What is the cost of conserved energy associated with switching from incandescent to LED lighting?

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