A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,379.00 to install, $5,184,00 to operate per year for 7 years at which time it will be sold for $7,172.00. The second, RayCool 8 , costs $41,022.00 to install, $2,002.00 to operate per year for 5 years at which time it will be sold for $9,079.00. The firm's cost of capital is 6.98%. What is the equivalent 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 $26,271.00 to install, $5,196.00 to operate per year for 7 years at which time it will be sold for $6,984,00. The second, Raycool 8 , costs $41,823.00 to install, $2,147.00 to operate per year for 5 years at which time it will be sold for $9,100.00. The firm's cost of capital is 5.56%. What is the equivalent annual cost of the Raycool8? Assume that there are no taxes