A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units, The first, the AC360, costs $26,037.00 to install, $5,144,00 to operate per year for 7 years at which time it will be sold for $7,158.00. The second, RayCool 8, costs $41,663.00 to install, $2,072.00 to operate per year for 5 years at which time it will be sold for $3,959.00. The firm's cost of capital is 5.30%. What is the equivalent annual cost of the PayCoolB? Assume that there are no taxes. Answer format: Currency: Round to: 2 decimal places