2) The McKenzies are a retired couple with no children living at home. They own a 2-bedroom condo. Calculate the annual expense for the McKenzies by completing the table below. [5] Expense Item Annual Cost Their mortgage payments are $981.72 a month They pay condo fees of $450 per month. These fees include heat, electricity, water and maintenance. They pay $387.92 to insure their condo unit each year. Their property taxes are $1976.47 a year. They have a cable/phone/internet bundle that costs $99 a month. TOTAL ANNUAL EXPENSE