12. - 2.50 points Cardinal Company is considering a project that would require a $2,875,000 investment in equipment with a usere or live 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 16%. The project would provide net operating income each year as follows: Sales Variable expenses $ 2,871,000 1,018,000 1,853,000 Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs Depreciation 5 753,000 515,000 Total fixed expenses 1,268,000 585,000 Net operating income S Click here to view Exhibit 10B-1 and Exhibit 10B-2. to determine the appropriate discount factor(s) using tables Required: What is the project's net present value? (Round discount factor(s) to 3 decimal places, intermediate and final answers to the nearest dollar amount.) Net present value