Casey Nelson is a divisional manager for Pigeon Company. His annual pay raises are largely determined by his division's return on investment (ROI), which has been above 23% each of the last three years. Casey is considering a capital budgeting project that would require a $5,800,000 investment in equipment with a useful life of five years and no salvage value. Pigeon Company's discount rate is 19%. The project would provide net operating income each year for five years as follows: Sales $ 5,100,000 2.280,000 Variable expenses 2,820,000 3 nces Contribution margin Fixed expenses: Advertising, salaries, and other fixed $870,000 out-of-pocket costs Depreciation 1,160,000 Total fixed expenses 2,030,000 Net operating income $ 790,000 Click here to view Exhibit.138.1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using tables Required: 1. What is the project's net present value? (Round discount factor(s) to 3 decimal places.)