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#2 . A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs

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#2 . A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,151.00 to install, $5,065.00 to operate per year for 7 years at which time it will be sold for $6,941.00. The second, RayCool 8, costs $41,245.00 to install, $2,150.00 to operate per year for 5 years at which time it will be sold for $9,060.00. The firm's cost of capital is 5.52%. What is the equivalent annual cost of the RayCool8? Assume that there are no taxes. Submit Answer format: Currency: Round to: 2 decimal places. unanswered not_submitted Attempts Remaining: Infinity

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