#2 A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first the AC360 costs $26,551 00 to install $5,196 00 to operate per year for 7 years at which time it will be sold for $6,904 00 The second, RayCool 8 costs $41,910 00 to install, $2,071.00 to operate per year for 5 years at which time it will be sold for $8.993 00 The firm's cost of capital is 5 12% What is the equivalent annual cost of the RayCool8? Assume that there are no taxes Submit Answer format: Currency Round to 2 decimal places