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A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,435.00 to

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A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,435.00 to install, $5,151 00 to operate per year for 7 years at which time it will be sold for $6,831.00 The second, RayCool 8, costs $41.655 00 to install $2.128 00 to operate per year for 5 years at which time it will be sold for $9,011.00. The firm's cost of capital is 5.97%. What is the equivalent annual cost of the AC3602 Assume that there are no taxes Submit Answer format: Currency: Round to: 2 decimal places

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