Cardinal Company is considering a five$-$year project requiring a $$2,975,000$ investment in equipment with a useful life of five years and no salvage value. The company$$s discount rate is $14\%.$ The project would provide net operating income in each of five years as follows:

Sales $ $2,735,000$

Variable expenses $1,000,000$

Contribution margin $1,735,000$

Fixed expenses:

Advertising, salaries, and other fixed out$-$of$-$pocket costs $ $735,000$

Depreciation $595,000$

Total fixed expenses $1,330,000$

Net operating income $ $405,000$

Click here to view Exhibit $14$B$-1$ and Exhibit $14$B$-2,$ to determine the appropriate discount factor$($s$)$ using table.

$2.$ What are the project$$s annual net cash inflows?