Duane Miller wants to know what price home he can afford. His annual gross income is $62,400. He has no other debt expenses and expects property taxes and insurance to cost $470 per month. He knows he can get a 11.00%, 15 year mortgage so his mortgage payment factor is 11.37. He expects to make a 30% down payment. What is Duane's affordable home purchase price? (Round your answer to the nearest whole dollar.)

Multiple Choice

a)$135,966

b)$206,898

c)$105,688

d)$156,552

e)$177,424