11 Cardinal Company is considering a project that would require a $2,812,000 investment in equipment with a useful life of five years. At the end of five years, the project would terminate and the equipment would be sold for its salvage value of $400,000. The company's discount rate is 16%. The project would provide net operating Income each year as follows: $2,855,000 1,010,000 1,845,000 3 021742 Sales Variable expenses Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs Depreciation Total fixed expenses Net operating income $798,000 482,400 1,280,400 $ 564,600 Click here to view Exhibit 10-1 and Exhibit:10:2, to determine the appropriate discount factor(s) using tables Required: What is the present value of the project's annual net cash inflows? (Round discount factor(s) to 3 decimal places and final answer to the nearest dollar amount.) Presente