Hannah needs a new kitchen. She finds Jared, a contractor, through an ad he posted in the local newspaper. Jared paid $60 to post the ad in the newspaper. After Hannah and Jared agree on the price for the new kitchen, they sign a contract, which Hannah has a law firm write up for $95, stating that Jared will install Hannah's new kitchen for $2,200.
The transaction costs associated with this exchange are .