A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,181.00 to install $5,089.00 to operate per year for 7 years at which time it will be sold for $7.091.00 The second, RayCool 8, costs $41,312.00 to install, $2,034.00 to operate per year for 5 years at which time it will be sold for $8.942.00. The firm's cost of capital is 5 31%. What is the equivalent annual cost of the RayCools? Assume that there are no taxes Submit Answer format: Currency Round to 2 decimal places