Cardinal Company is considering a five$-$year project that would require a $$2,945,000$ investment in equipment with a

useful life of five years and no salvage value. The company's discount rate is $18\%.$ 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.

What is the present value of the project's annual net cash inflows? $($Round your final answer to the nearest whole dollar amount.$)$