Based on the following data, would you recommend buying or renting?

Rental Costs Buying Costs

Annual rent $ 8,330 Annual mortgage payments $ 10,350 (10,050 is interest)

Insurance $ 240 Property taxes $ 2,160

Security deposit $ 1,125 Down payment/closing costs $ 5,050

Growth in equity $ 300

Insurance/maintenance $ 2,000

Estimated annual appreciation $ 2,650

Assume an after-tax savings interest rate of 8 percent and a tax rate of 26 percent. Assume this individual has other tax deductions that exceed the standard deduction amount.

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?