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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 $26,731.00

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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 $26,731.00 to install, $5,144.00 to operate per year for 7 years at which time it will be sold for $6,933.00. The second, RayCool 8, costs $41,328.00 to install, $2,124.00 to operate per year for 5 years at which time it will be sold for $8,990.00. The firm's cost of capital is 5,63%. What is the equivalent annual cost of the RayCool87 Assume that there are no taxes. A Submit Answer format: Currency: Round to: 2 decimal places

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