12. value: 2.50 points 2.50 points Cardinal Company is considering a project that would require a $2,890,000 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 $200,000. The company's discount rate is 12%. The project would provide net operating income each year as follows: Sales Variable expenses $ 2,739,000 1,100,000 1,639,000 Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs Depreciation $ 641,000 538,000 Total fixed expenses 1,179,000 Net operating income $ 460,000 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