Suppose you have obtained a 6%, 30-year fully amortizing FHA mortgage loan of $140,000 to finance the purchase of your primary residence. In so doing, you must pay UFMIP of 1.75% on the loan, and an additional mortgage insurance premium (MIP) of 1.10% each year based on the average loan balance. If the first-year average loan balance is $139,148.25, determine: a) The annual insurance premium for the first year. b) The monthly insurance premium for the first year. c) The up-front insurance premium due at closing.