Williams Auto has a machine that installs tires. The machine is now in need of repair. The machine originally cost $11,200 and the repair will cost $2,200, but the machine will then last two years. The labor cost of operating the machine is $0.40 per tire. Instead of repairing the old machine, Williams could buy a new machine at a cost of $6,200 that would also last two years; the labor cost would then be reduced to $0.20 per tire. Williams expects to install 11,200 tires in the next two years. 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? Repair Replace References Worksheet Difficulty: 1 Easy Learning Objective: 11-01 Define the decision-making process and identify the types of cost information relevant for decision making