A buyer has obtained a mortgage in which the LTV is 95% of the first $40,000 of the sale price and 90% of the remainder of the sale price. What are the buyer's costs on a $185,000 sale if the lender charges a 2% loan origination fee and 2 points?
a) $5,550
b) $7,400
c) $8,925
d) $11,100
