#4 reattempted Upload incorrect A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,333.00 to install, $5,141.00 to operate per year for 7 years at which time it will be sold for $7,055.00. The second, RayCool 8, costs $41,410.00 to install, $2,085.00 to operate per year for 5 years at which time it will be sold for $8,991.00. The firm's cost of capital is 5.65%. What is the equivalent annual cost of the AC360? Assume that there are no taxes. Correct Answer: $8,950.13 Points: 0 More Details Attempts Remaining: Infinity 8551.53 Submit Answer format: Currency: Round to: 2 decimal places. Hide Hint Similar to CSD 9 #11 #1 # unanswered not_submitted A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,257.00 to install, $5,185.00 to operate per year for 7 years at which time it will be sold for $7,097.00. The second, RayCool 8, costs $41,324.00 to install, $2,151.00 to operate per year for 5 years at which time it will be sold for $9,089.00. The firm's cost of capital is 5.50%. What is the equivalent annual cost of the AC360? Assume that there are no taxes. Attempts Remaining: Infinity Submit Answer format: Currency: Round to: 2 decimal places