A A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,088.00 to install, $5,027.00 to operate per year for 7 years at which time it will be sold for $7,134.00. The second, RayCool 8, costs $41,666.00 to install, $2,196.00 to operate per year for 5 years at which time it will be sold for $9,053.00. The firm's cost of capital is 6.59%. What is the equivalent annual cost of the AC360? Assume that there are no taxes. 8 Submit Answer format: Currency: Round to: 2 decimal places. Hide Hint Similar to CSD 9 #11 vered at the end. The answered What is the equivalent incorrect Correct Answer: $8.964.00 Points