Cardinal Company is considering a five-year project requiring a $2,915,000 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: Sales Variable expenses $ 2,863,000 1,014,000 Contribution margin Fixed expenses: out-of-pocket costs Advertising, salaries, and other fixed Depreciation Total fixed expenses $ 781,000 583,000 1,849,000 Net operating income 1,364,000 $ 485,000 Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using table.