A road requires no upkeep until the end of $2$ years when $60,000$ will be needed for repairs. After this $90,000$ will be needed for repairs at the end of each year for the next $5$ years, then $120,000$ at the end of each year for the next $5$ years. If money is worth $14\%$ compounded annually, what was the equivalent uniform annual cost for the $12$ years? Is this Ordinary annuity, deferred annuity or annuity due?

Use this formula for Ordinary annuity, if this is ordinary annuity.

$F=A\{\frac{(1+i{)}^n-1}{i}\},P=A\{\frac{1-(1+i{)}^{-n}}{i}\}$

Use the formula below if this is deferred annuity.

$P=A\{\frac{1-(1+i{)}^{-n}}{i}\}(1+i{)}^{-m}$