Hard Drive Screwed?

I have a Asus desktop. When I turn it on. I get 2 messages. Ultra DMA Mode-5 is bad and SMART Hard Disk is bad. And my pc won't even install Windows. Fails every time. I've tried changing certain stuff in BIOS. Nothing has worked for me so far. I was thinking about just buying new hard drive or just wiping the whole hard drive and try installing. I just don't know what to do really. Frustrated with my pc over all. Any suggestions?
 
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