A 500 kw electric lighting plant cost $95 per kw installed. Fixed charges is 14%, operating cost is $0.013 per kw hr. The plant averages 150kw for 5000hr of the year, 420kw for 1000hr and 20 kw for the remainder. What is the unit cost of production of electric energy?

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A: The given figure is shown below:

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Electrical Heating Unit

The conversion of electrical energy to heat energy is known as electric heating. The heating system that converts the electrical energy to heat energy for various application is called electrical heating unit. Electricity is employed as the firing mechanism in electric heating systems, which transforms electric current to heat. Electric heaters have heating elements in the form of electric resistors.