Cardinal Company is considering a project that would require a $2,765,000 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 14%. The project would provide net operating income each year as follows: Sales Variable expenses Fixed expenses: $2,851,000 1,150,000 Contribution margin 1,701,0001 Advertising, salaries, and other fixed out-of-pocket $670,000 493,000 Total fixed expenses Net operating income 1,163,000 $ 538,000 costs Depreciation 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 project's annual net cash inflows? (Round discount factor(s) to 3 decimal places and final answer to the nearest dollar amount.) Present value