#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 $26,135.00 to install, $5,046.00 to operate per year for 7 years at which time it will be sold for $7,183.00. The second, RayCool 8, costs $41,620.00 to install, $2,112.00 to operate per year for 5 years at which time it will be sold for $9,094.00. The firm's cost of capital is 6.22%. 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