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How much will it cost to replace my Hot Water Service?

"How much will it cost to replace my Hot Water Service?", is the anguished comment we often hear when the old faithful hot water service has finally given up the ghost.
 
The give-away signs that they are starting to fail include a lot of fluctuation in the temperate of the hot water and continuous discharge from the overflow.......
 
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How much will it cost to replace my Hot Water Service?