A firm is considering replacing the existing Industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,326.00 to Install, $5,151.00 to operate per year for 7 years at which time it will be sold for $7,126,00. The second, RayCool 8, costs $41,258.00 to install, $2,163.00 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 5,85%. What is the equivalent annual cost of the RayCool87 Assume that there are no taxes Submit Answer format: Currency: Round to: 2 decimal places