To calculate the cost of replacing the carpet, you can multiply the cost per square foot by the total area of the living room.
Cost per square foot: $7.50
Area of the living room: 263.5 square feet
Total cost = Cost per square foot × Area
Total cost = $7.50 × 263.5
Now, let's do the multiplication:
Total cost = $7.50 × 263.5 = $1,976.25
Therefore, the total cost to replace the carpet in Mike's living room will be $1,976.25.