As described in title, the problem is to compute the renewal function with interarrival distribution $F$, $$ 1-F(t) = pe^{-\mu_1t} + (1-p)e^{-\mu_2t} $$
I tried to compute renewal function M(t) with renewal equation, $$ M(t) = F(t) + \int_0^t M(t-y) {\rm d}F(y) $$ but failed to solve the equation.
I also tried to solve the problem by compound Poisson process, and let $\Lambda$ follows a Bernoulli distribution, that is $P(\Lambda = \mu_1) = p, P(\Lambda = \mu_2) = 1 - p$. When $\Lambda$ is given, $N(t) | \Lambda$ is a Poisson process with ratio $\Lambda$, but also got stuck.
Any hint is appreciated.