Your old car costs you $300 per month in gas and repairs. If you replace it, you could sell the old car immediately for $2,300. To buy a new car that would last nine years, you need to pay out $11,000 immediately. Gas and repairs would cost you only $150 per month on the new car. Interest is 7% compounded monthly. Should you buy a new car (Alternative 1) or keep your old car (Alternative 2)? Compute the net present value of each alternative and determine which alternative should be accepted or rejected according to the net present value criterion. The net present value for Alternative 1 is $. (Round the final answer to the nearest dollar as needed. Round all intermediate values to six decimal places as needed.) The net present value for Alternative 2 is $. (Round the final answer to the nearest dollar as needed. Round all intermediate values to six decimal places as needed.) The preferred alternative is