#2 + unanswered A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,874.00 to install, $5,190.00 to operate per year for 7 years at which time it will be sold for $6,938.00. The second, RayCool 8, costs $41,946.00 to install, $2,093.00 to operate per year for 5 years at which time it will be sold for $9,015.00. The firm's cost of capital is 6.07%. What is the equivalent annual cost of the RayCool8? Assume that there are no taxes. not_submitted Attempts Remaining: Infinity Submit Answer format: Currency: Round to: 2 decimal places