Based on the following data, would you recommend buying or renting? Rental Costs Armual rent Insurance Security deposit Buying Costs $7, 480 Armual mortgage payments $155 Property taxes $700 Down payment/closing costs $10, 000 (9, 625 is interest) $1, 820 $4, 700 $ 375 $1, 150 $1, 800 Growth in equity Insur ance/maintenance Estimated amual appreciation 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 b. Would you recommend buying or renting? O Renting Buying