I was warming up my 1992 740 Turbo Wagon and heard a thump. All the warning lights on the dash came on. I opened the hood to find the lower of the two belts had snapped. A Volvo guy I know said it sounds like the alternator belt.

My question: easy DIY fix or should I take it to a shop? I'm not a big car guy but I'm handy enough. Also my dad is a tv repairman and he has a killer set of tools.

Is there any part of replacing this belt that's tricky enough that I shouldn't risk doing it on my own, or is it pretty straightforward? How about a detailed step-by-step somewhere online? Thanks. I'd like to save the exhorbitant shop fee, even if it's only one hour's worth.