A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC$360,$ costs $$26,915\mathrm{.}00$ to install, $$5,007\mathrm{.}00$ to operate per year for $7$ years at which time it will be sold for $$7,147\mathrm{.}00.$ The second, RayCool $8,$ costs $$41,990\mathrm{.}00$ to install, $$2,161\mathrm{.}00$ to operate per year for $5$ years at which time it will be sold for $$9,006\mathrm{.}00.$ The firm$$s cost of capital is $5\mathrm{.}51\%.$ What is the equivalent annual cost of the RayCool$8?$ Assume that there are no taxes.