Required information [The following information applies to the questions displayed below.] Cardinal Company is considering a five-year project that would require a $2,845,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 12%. The project would provide net operating income in each of five years as follows: Sales $2,869,000 Variable expenses 1,126,000 Contribution margin 1,743,000 Fixed expenses: Advertising, salaries, and other out- of-pocket costs $709,000 Depreciation 569,000 Total fixed expenses 1,278,000 Net operating income $ 465,000 (Hint. Use Microsoft Excel to calculate the discount factor(s).) 2-a. What are the project's annual net cash inflows? Annual net cash inflow _ 2-b. What is the present value of the project's annual net cash inflows? (Round discount factor to 5 decimal places) Pesentvave [