12. 2.121 Income from a precious metals mining operation has been decreasing uniformly for 5 years. If income in year 1 was $300,000 and it decreased by $30,000 per year through year 4, the equivalent annual worth of the income at 10% per year is closest to:

1. $310,500 2. $258,600 3. $203,900 4. $164,800