In one year, your expenses of $50,000 are 91% of your total income. You intend to use the surplus as a down payment on a new car. The down payment must be at least 20% of the new car’s purchase price. What is the minimum purchase price of the new car?
a) $54,945.05
b) $59,071.43
c) $63,251.65
d) $68,021.98