A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,328.00 to install. $5,056.00 to operate per year for 7 years at which time it will be sold for $6,984.00 The second, RayCool 8, costs $41,141.00 to install, $2,169.00 to operate per year for 5 years at which time it will be sold for $8,906.00. The firm's cost of capital is 5.98%. What is the equivalent annual cost of the AC360? Assume that there are no taxes Submit Answer format: Currency Round to 2 decimal places