Proper working please. Solution is provided.

Find the equivalent uniform annual amount for a cash flow consisting of $1,000 immediate expenditure, $1,200 expenses during the first year, an income of $1,000 during the second year and an income of $5,000 during the third year. Use an interest rate of 12% Is this project worth doing? A businessman with his own expected rate of return for his money is evaluating this venture and hesitates about taking it on. What is his likely rate? (NPV-$2,285, likely rate is about 55%) 8