Brief Exercise $11-11($Algo$)$ Williams Auto has a machine that installs...

LO $11-1]$

Williams Auto has a machine that installs tires. The machine is now in need of repair. The machine originally cost $$10,300$ and the

repair will cost $$1,300,$ but the machine will then last two years. The labor cost of operating the machine is $$0\mathrm{.}50$ per tire. Instead of

repairing the old machine, Williams could buy a new machine at a cost of $$5,300$ that would also last two years; the labor cost would

then be reduced to $$0\mathrm{.}30$ per tire. Williams expects to install $10,300$ tires in the next two years.

Required:

a$.$ Determine the total $($two$-$years$)$ cost for both repairing and replacing the machine.

b$.$ Should Williams repair or replace the machine?