Win7 - mute sound in mixer for particular application by keyboard shortcut

I was wondering whether there is a way to mute / unmute a particular application in the mixer by a keyboard shortcut.

So e.g. by CTRL M W to mute / unmute the sound of Winamp. I am not asking about muting sound in general as in Is there a shortcut to mute sound in Windows 7?, but the sound for a particular application.

The solution is to use the freeware nircmd tool and create a desktop shortcut with whatever hotkey you'd like in order to run one of the following commands:

As documented at http://nircmd.nirsoft.net/changeappvolume.html

changeappvolume [Process] [volume level] {Device Name/Index}

Examples:

changeappvolume iexplore.exe -0.2

changeappvolume wmplayer.exe 0.55 Speakers

changeappvolume /1275 -0.25 1

changeappvolume Firefox.exe 0.5