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A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,535.00 to install, $5,134.00 to operate per year for 7 years at which time it will be sold for $7,082.00. The second, RayCool 8 , costs $41,335.00 to install, $2,007.00 to operate per year for 5 years at which time it will be sold for $8,904.00. The firm's cost of capital is 6.42%. What is the equivalent annual cost of the AC360? Assume that there are no taxes. 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 $26,459.00 to install, $5,083.00 to operate per year for 7 years at which time it will be sold for $7,031.00. The second, RayCool 8 , costs $41,392.00 to install, $2,067.00 to operate per year for 5 years at which time it will be sold for $9,047.00. The firm's cost of capital is 5.23%. What is the equivalent annual cost of the RayCool8? Assume that there are no taxes. Answer format: Currency: Round to: 2 decimal places