I'll throw in two things, the tapes themselves degrade, the ferrous oxide peels off which causes the sound to become muffled and muted, that just requires a new tape, which you will have great fun tracking down, the most basic fix is to clean the tape heads with isopropyl alcohol on a Cotten bud, you can do that yourself fairly easily, again there will be a Nakamichi owners/fan page out there that will tell you how to go about basic repairs.
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