You are choosing from buying an SUV or an EV for your project team, please use the NPV method to help you to make the decision.

The SUV costs $20,000 to buy, and each year you spend $1,000 on gas, by the end of 10 years, you can resale the car for $5,000.

The EV costs $30,000 to buy, and each year you spend $100 on electricity, by the end of 10 years, you can resale the car for $10,000.

The discount rate is 4%, and you plan to hold the car for 10 years.

Which car should you buy? Please calculate the NPV of owning each car, showing your process to get partial credit.