That should do the trick. If you use a cookie pan or something similar under the alternator to catch the overspray and drippings when you spary the inside, then you can use a brush to scub the outside a bit with whats left in the tray.

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1988 325is (purchased new) sold
2004 X5 3.0 2005 X3 2.5
2008 X5 3.0 (new to me)