Reference no: EM131962395

Compact fluorescent lamps (CFLs) have become required in recent years, but do they make financial sense? Suppose a typical 60-watt incandescent lightbulb costs $.51 and lasts for 1,000 hours. A 15-watt CFL, which provides the same light, costs $3.70 and lasts for 12,000 hours. A kilowatt-hour is 1,000 watts for 1 hour. Suppose you have a residence with a lot of incandescent bulbs that are used on average 500 (and you can't tell which bulbs are older or newer). If you require a 10 percent return, at what cost per kilowatt-hour does it make sense to replace your incandescent bulbs today? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 6 decimal places) {\color{Red} }

WHAT IS THE BREAK EVEN COST, ROUND TO 6 DECIMAL PLACES.