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A firm is considering replacing the existing industrial air conditioning unit. They will pick one...

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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 $26,346.00 to install, $5,173.00 to operate per year for 7 years at which time it will be sold for $7.192.00. The second, RayCool 8, costs $41,442.00 to install, $2,011.00 to operate per year for 5 years at which time it will be sold for $8,970.00. The firm's cost of capital is 6.36%. What is the equivalent annual cost of the AC360? Submit Answer format: CurrencyRound to: 2 decimal places

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