#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 $26.822.00 to install, $5,010.00 to operate per year for 7 years at which time it will be sold for $7,192.00. The second, RayCool 8, costs $41,364.00 to install, $2,189.00 to operate per year for 5 years at which time it will be sold for $8,916.00. The firm's cost of capital is 6.05%. What is the equivalent annual cost of the Ray Cool8? Assume that there are no taxes. not_submitted Attempts Remaining: Infinity Submit Answer format: Currency: Round to: 2 decimal places