The price of a certain item is P dollars. The sales tax on the item is 4%. Which expressions represent the total cost of the item, in dollars, after the tax has been applied?

The sales tax on the item is 4% of the price, so the sales tax is $\frac{4}{100}\cdot P = \frac{P}{25}$. Therefore, the total cost of the item is $P+\frac{P}{25}=\boxed{\frac{26P}{25}}$.