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Show your work please. #1 A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first,

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Show your work please.

#1 A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,776.00 to install, $5,119.00 to operate per year for 7 years at which time it will be sold for $7,185.00. The second, RayCool 8, costs $41,956.00 to install, $2,102.00 to operate per year for 5 years at which time it will be sold for $9,009.00. The firm's cost of capital is 5.74%. What is the equivalent annual cost of the AC360? Assume that there are no taxes. Submit Answer format: Currency: Round to: 2 decimal places

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