A firm is considering replacing the existing industrial air conditioning unit They will pick one of two units. The first, the AC360 costs $26.997.00 to install, $5,188.00 to operate per year for 7 years at which time it will be sold for $7,177.00. The second. Ray Cool 8 . costs $41,275,00 to install, $2,152.00 to operate per year for 5 years at which time it will be sold for 58.914.00 The firms cost of capital is 5.45%. What is the equivalent annual cost of the RayCool8? Assume that there are notaxes. Answer format: Oumency found to: 2 decimal ptaces