#1 A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,175.00 to install, $5,044.00 to operate per year for 7 years at which time it will be sold for $6,860.00. The second, RayCool 8, costs $41,773.00 to install, $2,196.00 to operate per year for 5 years at which time it will be sold for $8,925.00. The firm's cost of capital is 5.94%. What is the equivalent annual cost of the AC360? Assume that there are no taxes. unanswered not_submitted Attempts Remaining: Infinity Submit Answer format: Currency: Round to: 2 decimal places