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Well, I'm gonna be the vioce of opposition here.
I say repair. $220 isn't outta line for a transformer + installation. Transformers tend to be very expensive, so it sounds like a good deal to me. 5 years is not what I would consider 'old' for a TV. They should last at least 10 years, IMO. bal8664 is completely right... you won't get anywhere as much TV for $220 as you now have, but if that doesn't matter to you, then...
If you are really concerned about the prognosis, then get a second opinion.
The other option is to finance. If you want more TV than you can afford at the moment, then you can always get a loan or finance it through the store you get it from. It's a great way for a student to begin to develop some credit.
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Every passing hour brings the Solar System forty-three thousand miles closer to Globular Cluster M13 in Hercules — and still there are some misfits who insist that there is no such thing as progress.
Kurt Vonnegut - Sirens of Titan
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