If a student stays in his hometown, he can go to an in-state college at a reduced tuition of $8000 per year and pay $700 per month in rent. Or he can leave home, go to an out-of-state college with a $10,000 scholarship (per year), pay $19,000 per year in tuition, and pay $400 per month to live in a dormitory. He will pay $1,500 per year to travel back and forth from the out-of-state college. Assuming all other factors are equal, which is the less expensive choice on an annual (12-month) basis?