You would like to purchase a new vehicle for your business. You plan to finance the purchase through your bank. Looking at your budget, you believe you can afford a loan payment of $$600$ per month. Your bank is offering financing at $7\%$ APR over four years with monthly payments. What is the maximum you can borrow to purchase the vehicle and stay within your budget? Assume the first payment will be due one month after taking out the loan. LO$2$

$$71,428\mathrm{.}57$

$$42,857\mathrm{.}14$

$$25,056\mathrm{.}12$

$$60,000\mathrm{.}00$