A firm is considering replacing the existing industrial air conditioning unit. They wil pick one of two units. The first, the AC360, costs $26,841.00 to install, $5,037.00 to operate per year for 7 years at which time it will be sold for $6.903.00 The second, RayCool 8, costs $41,356.00 to install, $2,182.00 to operate per year for 5 years at which time it will be sold for $8,934.00. The firm's cost of capital is 6.32%. What is the equivalent annual cost of the AC360? Assume that there are no taxes. Attem Answer format: Currency: Round to: 2 decimal places