A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The tirst, the AC360, costs $26,006.00 to install, $5,029.00 to operate per year for 7 years at which time it will be sold for $6,807,00. The second, RayCool 8, costs $41,108.00 to install, $2,098.00 to operate per year for 5 years at which time it will be sold for $8,916.00. The firm's cost of capital is 5.31%. What is the equlvalent annual cost of the AC360? Assume that there are no taxes. Answer format: Currency: Round to: 2 decimal places. A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,776.00 to install, $5,089.00 to operate per year for 7 years at which time it will be sold for $6,839.00. The second, RayCool 8 , costs $41,583.00 to install, $2,075.00 to operate per year for 5 years at which time it will be sold for $9,044,00. The firm's cost of capital is 6.90%. What is the equivalent annual cost of the RayCool8? Assume Answer format: Currency: Round to: 2 decimal places