Cardinal Company is considering a project that would require a $2,815,000 investment in equipment with a useful life the end of five years, the project would terminate and the equipment would be sold for its salvage value of $500,000. discount rate is 18%. The project would provide net operating income each year as follows: $2,865,000 1,015,800 1,850,000 Sales Variable expenses Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs Depreciation Total fixed expenses Net operating income $750,000 163,000 1,213,009 $ 637,000 Click here to view Exhibit 10-1 and Exhibit 10-2, to determine the appropriate discount factor(s) using tables Required: What is the present value of the equipment's salvage value at the end of five years? (Round discount factor(s) to 3 de and final answer to the nearest dollar amount.) Present value