33. A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,811 to install, $5,055 to operate per year for 7 years at which time it will be sold for $7,014. The second, RayCool 8, costs $41,127 to install, $2,146 to operate per year for 5 years at which time it will be sold for $8,988. The firms cost of capital is 6.83%. What is the equivalent annual cost of the AC360? Assume that there are no taxes.