11. volue 2.50 points Cardinal Company is considering a project that would require a $2,765,000 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 $300,000. The company's discount rate is 14%. The project would provide net operating income each year as follows: Sales Variable expenses $2,851.000 1,150,000 1,701,000 Contribution margin Fixed expenses Advertising, salaries and other fixed out-of-pocket costs Depreciation Total fixed expenses $ 670,000 493.000 1.163,000 $ 638,000 Net operating income Click here to view Exhibit 19B-1, to determine the appropriate discount factors using table Required: What is the present value of the equipments salvage value at the end of five years? (Round discount factor(s) to 3 decimal places and final answer to the nearest dollar amount Present value