Based on the following data, calculate the items requested: Rental Costs Annual rent Insurance Security deposit Buying Costs Property taxes $ 7,580 Annual mortgage payments $ 165 $ 750 Down payment/closing costs Growth in equity Insurance/maintenance Estimated annual appreciation $ 10,200 (9,675 is interest) $ 1,860 $ 4,900 $525 $ 1,250 $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.) Rental cost Buying cost b. Would you recommend buying or renting? Buying O Renting