A firm is considering replacing the existing industriah air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,159.00 to install, $5,151.00 to operate per year for 7 years at which time it will be sold for $7.004.00. The second, RayCool 8, costs $41,677 00 to install, $2,187.00 to operate per year for 5 years at which time it will be sold for $9,004 00. The firm's cost of capital is 561%. What is the equivalent annual cost of the AC3607 Assume that there are no taxes Answer Format: Currency: Round to: 2 decimal places. Enter Answer Here Submit Answer Afirm is considering replacing the existing industnah air conditioning unit. They will pick one of two units. The first, the AC360, costs $26, 159 00 to install $5,151.00 to operate per year for 7 years at which time it will be sold for $7,00400. The second, RayCool 8. costs $41,677.00 to instal $2.187.00 to operate per year for 5 years at which time it will be sold for $9,004 00. The firm's cost of capitalis 5.61% What is the equivalent annual cost of the AC360? Assume that there are no taxes Answer Format: Currency: Round to: 2 decimal places Enter Answer Horo Submit Answer + All Problems Next