Willard and Betsy Hogan want to buy a home. They will pay mortgage interest in the first year of $9,200. Annual property taxes on the home will be $3,780, and insurance will cost $535 a year. Other annual expenses will be: depreciation, $1,800; utilities, $2,400; and maintenance, $1,600. Lost interest on their investment will be $975. Estimated income tax savings are $3,520. a. What are the total first-year costs of home ownership? b. What are the net costs in the first year of home ownership