Afirm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,637 00 to install, $5,085 00 to operate per year for 7 years at which time it will be sold for $6,854.00 The second, RayCool 8, costs $41,490.00 to install, $2.024.00 to operate per year for 5 years at which time it will be sold for $9,019.00. The firm's cost of capital is 6.79%. What is the equivalent annual cost of the RayCool? Assume that there are no taxes Submit mit Currency Rewind to 2 decimal places