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

Rental Costs Buying Costs
Annual rent	$	7,780	Annual mortgage payments	$	10,600	(9,775 is interest)
Insurance	$	185	Property taxes	$	1,940
Security deposit	$	1,050	Down payment/closing costs	$	5,300
			Growth in equity	$	825
			Insurance/maintenance	$	1,450
			Estimated annual appreciation	$	2,100

Assume an after-tax savings interest rate of 6 percent and a tax rate of 28 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	$