Define a renewal-reward process, and state the renewal-reward theorem.

A machine $M$ is repaired at time $t=0$. After any repair, it functions without intervention for a time that is exponentially distributed with parameter $\lambda$, at which point it breaks down (assume the usual independence). Following any repair at time $T$, say, it is inspected at times $T, T+m, T+2 m, \ldots$, and instantly repaired if found to be broken (the inspection schedule is then restarted). Find the long run proportion of time that $M$ is working. [You may express your answer in terms of an integral.]