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Determine the total first-year cost of car ownership for Milagros. She just purchased a vehicle valued for
$21,550 with the following costs:
| Auto Loan | : Amount, $21,550; Duration, 4 years; APR, 7.25 percent |
| Property Taxes | : 1.79 percent of vehicle value/year |
| Sales Taxes | : 3.78 percent of the sales price |
| Title and Tags | : $50.59/year |
| Insurance | : $1,677.68/year |
| Maintenance and Usage | : $1,176.06/year |
The first-year cost of ownership for a vehicle valued and purchased for $21,550 is $ (Round to the nearest cent.)
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