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A firm is considering replacing the existing industral air conditioning unit. Thoy will pick one of two units. The first, the AC360, coets $26,593,00 to install, $5,074.00 to operate per year for 7 years at which time it will be sold for $6,842.00. The second, RayCool 8, costs $41,905.00 to install, \$2,098.00 to operate per year for 5 years at which time it will be sold for $8,913.00. The firm's cost of captal is 5.318. What is the equivalent annual cost of the AC360? Assume that there are no taxes. Answer format: Currency: Round to: 2 decimal places. A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,435.00 to install, $5,051,00 to operate per year for 7 years at which time it will be sold for $6,935.00. The second, RayCool 8, costs $41,745.00 to install, $2,044.00 to operate per year for 5 years at which time it will be sold for $8,941.00. The firm's cost of capital is 6.86%. What is the equivalent annual cost of the HayCooli8? Assume that there are no taxes