Based on the following data, would you recommend buying or renting? Buying Costs Annual mortgage payments Rental Costs $10,800 (9,825 is interest) $ 1,980 S 5,500 $ 7,880 Annual rent 195 Property taxes Down payment/closing costs Growth in equity Insurance 900 Security deposit 975 $ 1,550 Insuranceaintenance Estimated annual appreciation $2,200 Assume an after-tax savings interest rate of 8 percent and a tax rate of 30 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