Cardinal Company is considering a project that would require a $2,975,000 investment in equipment with a useful life of five years. At the end of five years, the project would terminate and the equipment would be sold for its salvage value of $300,000. The companys discount rate is 14%. The project would provide net operating income each year as follows:

Sales				$	2,735,000
Variable expenses					1,000,000
Contribution margin					1,735,000
Fixed expenses:
Advertising, salaries, and other fixed out-of-pocket costs	$	735,000
Depreciation		535,000
Total fixed expenses					1,270,000
Net operating income				$	465,000

Required:

What are the projects annual net cash inflows?