Williams Auto has a machine that Installs tires. The machine is now in need of repair. The machine originally cost $12,000 and the repair will cost $3,000, but the machine will then last two years. The labor cost of operating the machine is $0.80 per tire. Instead of repairing the old machine, Williams could buy a new machine at a cost of $8,200 that would also last two years; the labor cost would then be reduced to $0.40 per tire. Williams expects to install 12,000 tires in the next two years. Required: a. Determine the total (two-years) cost for both repairing and replacing the machine. Total cost to repair Total cost to replace b. Should Williams repair or replace the machine? O Repair Replace