Should I replace Entire Faucet?

[Robert P.]

Tenant just alerted me that the kitchen faucet began dripping from the spout into the sink. Went by and it actually pools up around the base as well. 

I'm sure I could change the cartridge and rings inside to fix, but I could also purchase a brand new faucet for under $50, too. The current faucet itself is pretty old.

Question - Should I just fix the current one, or swap out and replace it with a new one? I am thinking long term (if it helps, they are great tenants who take extraordinary care to the property)

Thanks!