Question 6 (12 marks) Thomas is planning to purchase a car. He has mixed feelings with competing pieces of advice given by his long time high-school girlfriend (and childhood friend) and his new university girlfriend. His high-school girlfriend, Catherine, advises him to purchase a 2nd hand Toyota with a purchase price of $24777. The maintenance cost on this Toyota is $538 for the 1st year but increases by $177 per year. On the other hand, his university girlfriend, Chlo, is suggesting that he purchase a brand new Hyundai at a price of $30344. The maintenance costs for the Hyundai are $192 for the 1st year but increases by $93 per year. Thomas plans to keep the car for 7 years. No debt is taken for the purchase. For this purchase, Bred Bank is offering a fixed bank interest rate of 7.2000000000000002%. a.) Calculate the Total Cost of Ownership (Purchase & Maintenance) of the Toyota at the present time. (4 marks) b.) Calculate the Total Cost of Ownership (Purchase & Maintenance) of the Hyundai at the present time. (4 marks) c.) Calculate the difference between the cost of ownership of the two vehicles (1 mark) d.) Whose advice should he follow (cheaper option)? (1 mark)