URGENT

A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,972.00 to install, $5,092.00 to operate per year for 7 years at which time it will be sold for $7,139.00. The second, RayCool 8, costs $41,042.00 to install, $2,021.00 to operate per year for 5 years at which time it will be sold for $8,972.00. The firm's cost of capital is 6.64%. What is the equivalent annual cost of the RayCool8? Assume that there are no taxes