You own an old jet ski that is a real gas guzzler. It is 12-years old and can be sold now for $3,200 cash. Assume its market value (MV) in 2 years will be $600. The annual maintenance expenses are expected to be $500 into the foreseeable future, and the boat averages only 3 miles per gallon of fuel. Gasoline costs $2 per gallon, and the boat will be used for about 350 miles per year. If you sell the old boat, you can buy a newer model boat for 16000. It will be under a maintenance warranty for 2 years, so this expense is negligible. The newer boat will average 9 miles per gallon of fuel and will have an MV of $6,000 in 2 years. Use a 2-year study period to determine which alternative is preferred using PW method. The MARR is 11% per year. a) What is the PW of the Defender? Round answer to nearest integer, include negative sign if applicable. b) What is the PW of the challenger? Round answer to nearest integer, include negative sign if applicable. You own an old jet ski that is a real gas guzzler. It is 12-years old and can be sold now for $3,200 cash. Assume its market value (MV) in 2 years will be $600. The annual maintenance expenses are expected to be $500 into the foreseeable future, and the boat averages only 3 miles per gallon of fuel. Gasoline costs $2 per gallon, and the boat will be used for about 350 miles per year. If you sell the old boat, you can buy a newer model boat for 16000. It will be under a maintenance warranty for 2 years, so this expense is negligible. The newer boat will average 9 miles per gallon of fuel and will have an MV of $6,000 in 2 years. Use a 2-year study period to determine which alternative is preferred using PW method. The MARR is 11% per year. a) What is the PW of the Defender? Round answer to nearest integer, include negative sign if applicable. b) What is the PW of the challenger? Round answer to nearest integer, include negative sign if applicable