Based on the following data, would you recommend buying or renting? Rental CostsBuying CostsAnnual rent$7,380Annual mortgage payments$9,800($9,575 is interest)Insurance$145Property taxes$1,780 Security deposit$650Down payment/closing costs$4,500 Growth in equity$225 Insurance/maintenance$1,050 Estimated annual appreciation$1,700 Assume an after-tax savings interest rate of 6 percent and a tax rate of 28 percent. Assume this individual has other tax deductions that exceed the standard deduction amount. a. Calculate total rental cost and total buying cost. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.)