William Auto has a machine that installs tires. The machnie is now in need of repair. The machine originally cost $11,300 and the repair will cost $2,300, but will then last two years. The labor cost of operating the machine is $0.45 per tire. Instead of repairing the old machine, William could buy a new machine at a cost of $6,300 that would also last two years.; the labor cost would then be reduced to $0.20 per tire. William expects to install 11,300 tires in next two years.

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

b. Should Williams repair or replace the machine?