A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC$360,$ costs $$26,083\mathrm{.}00$ to inst$$ll$,$ $$5,073\mathrm{.}00$ to operate per year for $7$ years at which time it will be sold for $$7,137\mathrm{.}00.$ The second, RayCool $8,$ costs $$41,782\mathrm{.}00$ to install, $$2,002\mathrm{.}00$ to operate per year for $5$ years at which time it will be sold for $$8,979\mathrm{.}00.$ The firm's cost of capital is $6\mathrm{.}78\%.$ What is the equivalent annual cost of the RayCool $8?$ Assume that there are no taxes.

Answer format: Currency: Round to: $2$ decimal places.