A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,892.00 to install, $5,170.00 to operate per year for 7 years at which time it will be sold for $6.919.00. The second, RayCool 8, costs $41,371.00 to install, $2,093.00 to operate per year for 5 years at which time it will be sold for $9.016.00. The firm's cost of capital is 6.33%. What is the equivalent annual cost of the AC360? Assume that there are no taxes. Answer format: Cumency: Round to: 2 decimal places