A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,381.00 to install, $5,165.00 to operate per year for 7 years at which time it will be sold for $7,068.00. The second, RayCool 8, costs $41,536.00 to install, $2,142.00 to operate per year for 5 years at which time it will be sold for $8,919.00. The firm's cost of capital is 5.68%. What is the equivalent annual cost of the AC3607 Assume that there are no taxes. Submit Answer format: Currency: Round to: 2 decimal places