The kit I used was for a '98 Ranger, made by Performance Accessories, and cost around $130. I had to get a steering extension for a '97 Ranger that cost around $70. I had to do a lot of rigging, so it took me a lot of time.
You are luckier than me though. PA makes a 3" kit for your early model vehicle, so it won't cost as much and will be easier to install.
I did install mine myself. I did a bunch of things differently than others who have installed the same on this site (did bumpers better and had some problems they didn't mention), so it took me quite a long time to get it done. You shouldn't have those problems though, so consensus is that it'll take you around 8 hours. It's a rather easy process that should be no problem for you and a friend.