Cardinal Company is considering a five-year project that would require a $2,810,000 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 Contribution margin Fixed expenses: Advertising, salaries, and other fixed $ 782,000 562,000 out-of-pocket costs Depreciation $ 2,847,000 1,121,000 1,726,000 Total fixed expenses 1,344,000 Net operating income $ 382,000 Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using table.