Michelle Duncan wants to know what price home she can afford. Her annual gross income is $51,600. She owes $690 per month on other debts and expects her property taxes and homeowners insurance to cost $340 per month. She knows she can get an 10.00%, 30-year mortgage so her mortgage payment factor is 8.78. She expects to make a 15% down payment. What is Michelle's affordable home purchase price? (Round your answer to the nearest dollar amount.)

Multiple Choice

• $80,933

• $78,609

• $50,570

• $944

• $944