Famed gamer Tyler Ninja' Blevins is considering whether to replace his aging game console or to spend money on updating it. The replacement console would cost $7,200 now and would need software updates of $600 to be paid at the end of every year for 9 years. At the end of 9 years, the replacement console can be salvaged for $2,800. The existing game console needs increasing amounts of software updates each year, and its salvage value is falling, as shown below. Year Maintenance Salvage Now $0 $2,400 1 $1,500 $1,300 (The existing console can be sold for $2,400 now. If it is sold in 1 year, the price will be $1,300. If the existing console is used between t = 0 and t = 1, a software update costing $1,500 must be paid at t=1.) Tyler Blevins faces an opportunity cost of capital of 20%. Expressed in Year 1 dollars, operating the old game console from t = 0 to t =1 would cost Tyler Blevins _______ more than operating the new game console from t = 0 to t = 1 . multiple choice $630 $307 $828 $1,168 $1,491