Exam Seved Required information (The following information applies to the questions displayed below] Cardinal Company is considering a five-year project that would require a $2,500,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 12%. The project would provide net operating income in each of five years as follows: Sales Variable expenses Contribution margin Fixed expenses Advertising, salaries, and other fixed out - of-pocket costs Depreciation Total fixed expenses Net operating Incone $ 2,853,000 1,200,000 1,655,000 $790,000 500,000 1,290,000 $363,000 Click here to view Exhibit 128-1 and Exhibit 128-2. to determine the appropriate discount factor(s) using table 3. What is the present value of the project's annual net cash inflows? (Round your final answer to the nearest whole dollar amount.) Present value $ 3,110,922