Please show all working out below;

A project has an initial cost of $1000000 and is expected to last for 2 years. In year 1, depreciation charge will be $100000 and earnings are expected to be $146153. In year 2, depreciation will be $100000 and earnings are expected to be $172259. Assume the required return is 12%. What is the value of this project? (Please ignore the $ sign when submitting your answer as the system will not read it)