James Alan was a doctor with a general practice in one of the poorer suburbs of Taxes. He and his wife were planning to build a clinic. The clinic would start with an outdoor patients service. This would cost $40000 including land and construction. He further needed $ 1000 per annum to maintain the outdoor centre. After two years, Alan planned to expand the services to include a maternity ward. This service would cost $ 60000 for building and furniture, plus an additional $ 500 per annum for maintenance. Alan had spoken with some of his old college friends who agreed to set up a foundation to support this program. Mr Wayne was working with a 12% discount rate and assuming a project life of 10 years.

Please help Mr James Alan with his financial issue.