Determine the totalfirst-year cost of car ownership for Milagros. She just purchased a vehicle valued for $21,550 with the followingcosts: Auto Loan:...
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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, 8.00 percent


Property Taxes: 1.38 percent of vehicle​ value/year


Sales Taxes : 2.75 percent of the sales price


Title and Tags​: ​$56.42​/year


Insurance​: ​$1,952.68​/year


Maintenance and Usage: ​$1,633.06​/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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