After two years of working and saving, Megan just bought her first car. She’s super excited and ready to load up all her friends for a ride. The third day after she bought it, she stops at a coffee shop on the way to school. When she comes out, she sees that someone has backed into her car in the parking lot. The back bumper has a large dent in it, but nothing else seems to be damaged. Megan is incredibly frustrated, especially since she hasn’t even been able to show off her car to her friends yet. Eager to get her car looking great again, she calls around for repair estimates and finds out that replacing the bumper would cost around $475. 1. Should Megan use her emergency fund to replace the damaged bumper on her new car? Yes or No 2. Explain your reasoning.