James is planning a road trip. His car consumes fuel at a rate of 8 liters per 100 kilometers. If he plans to travel a total distance of 750 kilometers, how many liters of fuel will he need for the trip? Additionally, if fuel costs $1.25 per liter, how much will he spend on fuel for the entire trip? Let's think step by step and output the final answer within \boxed{}.
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