Rita is considering purchasing a new or used car. Based on her value of transportation, expected maintenance costs, auto loan payments, and insurance rates of each car she has derived the table below. If she buys the new car, the loan rate is 6%. If she buys a used car, the loan rate will be 11%. Given this information, which car provides the highest net present value? 
Definitions:
Direct Materials
Raw materials that are directly incorporated into a finished product and can be directly assigned to the product.
Standard Costs
Predetermined cost estimates used to measure the cost performance of an operation, allowing for budgeting and variance analysis against actual costs.
Standard Price
A predetermined cost of a resource or product, used for budgeting and cost control purposes.
Standard Quantity
A predetermined amount of input that should be used in producing a unit of output.
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