My son, age 13, has a lawn-mowing business with 10 customers. For each customer, he cuts the grass 3 times a year, which earns him $50 for each mowing. He has just paid

$200 for a new mower. The maintenance and operating cost of the mower is $120 for the first year in service and increases by 20% a year thereafter. A 1-year-old mower has a resale value of $150, which decreases by 10% a year thereafter. My son, who plans to keep his business until he is 16, thinks that it is more economical to buy a new mower every 2 years. He bases his decision on the fact that the price of a new mower will increase only by 10% a year. Is his decision justified?