A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the

AC$360,$ costs $$26,287\mathrm{.}00$ to install, $$5,173\mathrm{.}00$ to operate per year for $7$ years at which time it will be sold for $$6,978\mathrm{.}00.$

The second, RayCool $8,$ costs $$41,910\mathrm{.}00$ to install, $$2,171\mathrm{.}00$ to operate per year for $5$ years at which time it will be

sold for $$8,950\mathrm{.}00.$ The firm's cost of capital is $5\mathrm{.}09\%.$ What is the equivalent annual cost of the RayCool$8?$ Assume

that there are no taxes.

Answer format: Currency: Round to: $2$ decimal places.