#1 # A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,311.00 to install, $5,141.00 to operate per year for 7 years at which time it will be 7 sold for $7,194.00. The second, RayCool 8, costs $41,119.00 to install, $2,064.00 to operate per year for 5 years at which time it will be sold for $9,081.00. The firm's cost of capital is 6.55%. What is the equivalent annual cost of the AC360? Assume that there are no taxes. Submit Answer format: Currency: Round to: 2 decimal places. unanswered not_submitted Attempts Remaining: Infinity