Billy Bob wants to consider purchasing a new fuel-efficient furnace/air conditioner unit. The unit has been bid to cost $3198 to purchase and install. He estimates his annual savings to be $480 per year for the next 15 years. (Cost is at t=0, the savings can be considered annually beginning at t=1 and going until t=15), Billy considers the opportunity cost of funds to be 6%. If he uses the NPV method, what is the NPV he calculates for his project? (Assume annual compounding/discounting, and answer in $s to the nearest whole dollar without the $ sign needed, e.g, xxx, or 1234)
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