You have a choice between going to an in-state college where you would pay $5500 per year for tuition and an out-of-state college where the tuition is $7000 per year. The cost of Iiving is much higher at the in-state college, where you can expect to pay $1000 per month in rent, compared to $750 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 yearly expense of the out-of-state college is $. Thus on an annual basis, the less expensive choice is the (1)college. (Simplify your answers.) in-state out-of-state