Based on the following data, calculate the items requested:



Rental Costs Buying Costs
Annual rent $ 7,580 Annual mortgage payments $ 10,200 (9,675 is interest)
Insurance $ 165 Property taxes $ 1,860
Security deposit $ 750 Down payment/closing costs $ 4,900
Growth in equity $ 525
Insurance/maintenance $ 1,250
Estimated annual appreciation $ 1,900


Assume an after-tax savings interest rate of 6 percent and a tax rate of 28 percent. Assume this individual has other tax deductions that exceed the standard deduction amount.



a. Calculate total rental cost and total buying cost. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.)