Timothy purchased a car for $21,500 on the first day of December. He immediately paid $8000 and also agreed to pay three consecutive payments of $7000 each, including principal and interest charges at...

Extracted text: Timothy purchased a car for $21,500 on the first day of December. He immediately paid $8000 and also agreed to pay three consecutive payments of $7000 each, including principal and interest charges at the end of the first 3 years. Maintenance for the car is said to be at $2000 at the end of the first year and $3000 at the end of each subsequent year. The car is expected to be sold at the end of the fourth year (after paying for the maintenance work) for $9000. Given these facts, prepare a table of cash flows. Find also the year in which the revenue is highest.