Cardinal Company is considering a five$-$year project that would require a $$2,955,000$ investment in equipment with a useful life of five years and no salvage value. The company's discount rate is $16\%.$ The project would provide net operating income in each of five years as follows:

Click here to view Exhibit $12$B$-1$ and Exhibit $12$B$-2,$ to determine the appropriate discount factor$($s$)$ using table.

Foundational $12-4($Algo$)$

$4.$ What is the project's net present value? $($Round final answer to the nearest whole dollar amount.$)$

Net present value