Colleen is buying a $279,000 home with a 30-year mortgage at 4.5%. Because she is not making a down payment, PMI in the amount of $134.25 per month is required for the first 2 years of the loan. Based on this information, what is the total cost of this loan?
a. $493,776
b. $512,136
c. $475,415
d. $508,914