I need step by step on how to understand this.

Doohicky Devices. Doohickey Devices, Inc., manufactures design components for personal computers. Until the present, manufacturing has been subcontracted to other companies, but for reasons of quality control Doohicky has decided to manufacture the components itself in Asia. Analysis has narrowed the choice to two possibilities, Penang, Malaysia, and Manila, the Philippines. At the moment only the summary of expected, after-tax, cash flows displayed in the popup table, . is available. Although most operating outflows would be in Malaysian ringgit or Philippine pesos, some additional U.S. dollar cash outflows would be necessary, as shown in the above popup table. The Malaysia ringgit currently trades at RM3.8888/$ and the Philippine peso trades at Ps50.11/$. Doohicky expects the Malaysian ringgit to appreciate 2.0% per year against the dollar, and the Philippine peso to depreciate 5.0% per year against the dollar. If the weighted average cost of capital for Doohicky Devices is 15.0%, which project looks more promising? Calculate the net dollar cash flows from the operations in Penang, Malysia for years 2012 through 2014 below. (Round the exchange rate to four decimal places and the dollar amount to the nearest cent.) Doohicky in Penang (After-tax) 2012 2013 2014 Net cash flows (ringgit) RM (27,000) RM 8,200 RM 6,900 Expected exchange rate (ringgit/$) 3.8888 [spot / (1 + 0.02)] Cash flows ($) 69 $ Cash outflows ($) (140.00) (100.00) Net total cash flows ($) $ $ $