Marika is shopping for a new cell phone and plan. She can get the phone she wants for an upfront payment of $299 if she signs up for a two-year plan with a major carrier. That plan will cost $75 at the end of every month for the duration of the two-year contract. Alternately, Marika can purchase the phone today for $639.99 and obtain service from a "no contract" service provider for $40 at the end of every month. Assume the "no contract" option does not escalate in price over the next two years. In current dollars, which option is economically preferable over the next two years if Marika uses a discount rate of 9% compounded monthly? In current dollars, how much will Marika save by selecting that alternative?