You have a choice between going to an in-state college where you would pay $8000 per year for tuition and an out-of-state college where the tuition is $10,500 per year. The cost of living is much higher at the in-state college, where you can expect to pay $900 per month in rent, compared to $350 per month at the other college. Assuming all other factors are equal, which is the less expensive choice on an annual (12-month) basis? The yearly expense of the in-state college is $ and the Thus, yearly expense of the out-of-state college is $ on an annual basis, the less expensive choice is the college. (Simplify your answers.)