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

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1 A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,066.00 to Install, $5,173.00 to operate per year for 7 years at which time it will be sold for $6,968.00. The second, RayCool 8, costs $41,367,00 to install, $2,066.00 to operate per year for 5 years at which time it will be sold for $9,025.00. The firm's cost of capital is 6.91%. What is the equivalent annual cost of the AC3607 Assume that there are no taxes Submit Answer format: Currency: Round to: 2 decimal places

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