Cardinal Company is considering a project that would require a $2,915,000 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 12%. The project would provide net operating Income each year as follows: $2,746,000 1,126,000 1.620,000 Salep Variable expenses Contribution margin Pixed expenses Advertising, salaries, and other fixed out-of-pocket costs Depreciation Total fixed expenses Net operating income 5 615,000 523,000 1,138,000 $ 482,000 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 project's annual net cash inflows? (Round discount factor(s) to 3 decimal places and final answer to che nearest dollar amount.) Present value