Cardinal Company is considering a project that would require a $2,875,000 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 company's discount rate is 16%. The project would provide net operating income each year as follows: Sales Variable expenses $2,871,000 1,018,000 Contribution margin 1,853,000 Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs Depreciation $753,000 515,000 Total fixed expenses 1,268,000) $ 585,000 Net operating income Click here to view Exhibit 10-1 and Exhibit 10-2, to determine the appropriate discount factor(s) using tables. Required: What is the project's net present value? (Round discount factor(s) to 3 decimal places, intermediate and final answers to the nearest dollar amount.) Net present value