Suppose you are interested in taking an FHA mortgage loan for $$275,535$ in order to purchase your principal residence. In order to do so$,$ you must pay property mortgage insurance premium $($PMI$)$ of $1\mathrm{.}0\%$ of the mortgage balance. If the interest rate on the mortgage loan is $7\mathrm{.}25\%$ and the term is $15$ years and the PMI is financed $($i$.$e$.,$ it is included in the loan amount$),$ what is the dollar portion of your first year monthly mortgage payment that is designated to cover the PMI?

$$242\mathrm{.}55$

$$115\mathrm{.}04$

$$2,755\mathrm{.}35$

$$135\mathrm{.}23$