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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 $26,742.00 to Install, S5,060.00 to operate per year for 7 years at which time it will be sold for $7,153.00. The second, RayCool 8, costs $41,507.00 to install, $2,157.00 to operate per year for 5 years at which time it will be sold for $8,968.00. The firm's cost of capital is 5.52%. What is the equivalent annual cost of the AC360? Assume that there are no taxes Submit Answer format: Currency Round to 2 decimal places