Meghan and Harry are looking at buying a new car. They plan to finance the cost over the next 5 years with monthly payments of $250. They have a mortgage of $1,200/month, they pay $4,000/year in property taxes and annual heat costs $2,400. They also make student loan payments of $250/month and credit card payments of $200/month. They have gross annual income of $70,000. Will they qualify for the car loan?

a. They will not qualify for the new car loan as their TDS is too high

b. They will not qualify for the new car loan as their TDS and GDS are too high

c. They will qualify for the new car loan as they meet both the TDS and GDS requirements

d. They will qualify for the new car loan as their GDS and TDS meets the requirements