G E W2 A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,915.00 to install, $5,021.00 to operate per year for 7 years at which time it will be sold for $6,894.00. The second, RayCool 8, costs $41,835.00 to install, $2,143.00 to operate per year for 5 years at which time it will be sold for $8,994.00. The firm's cost of capital is 6.58%. What is the equivalent annual cost of the AC360? Assume that there are no taxes. Submit Answer format: Currency: Round to: 2 decimal places. A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,319.00 to install, $5,070.00 to operate per year for 7 years at which time it will be sold for $7.194.00. The second, RayCool 8, costs $41,055.00 to install, $2,131.00 to operate per year for 5 years at which time it will be sold for $8,937.00. The firm's cost of capital is 6.26%. What is the equivalent annual cost of the RayCool8? Assume that there are no taxes. Submit Answer format: Currency: Round to: 2 decimal places.