A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26.959.00 to Install, $5,099.00 to operate per year for 7 years at which time it will be sold for $7,200.00 The second, RayCool 8, costs $41.706.00 to install, $2,025.00 to operate per year for 5 years at which time it will be sold for $8,982.00. The firm's cost of capital is 5.13%. What is the equivalent annual cost of the AC360? Assume that there are no taxes. Submit Answer format: Currency: Round to: 2 decimal places