Exhibit 13 B-1 is the present value of $1 table and Exhibit 13 B-2 is the present value of an annuity of $1 in Arrears

Required information [The following information applies to the questions displayed below.] Cardinal Company is considering a five-year project that would require a $2,850,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 18%. The project would provide net operating income in each of five years as follows: Sales Variable expenses S 2,857,000 1,011,000 Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs $ 1,846,000 799,000 570,000 Depreciation Total fixed expenses 1,369,000 477,000 Net operating income Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using table. 13. Assume a postaudit showed that all estimates (including total sales) were exactly correct except for the variable expense ratio, which actually turned out to be 45%. What was the project's actual net present value? (Negative amount should be indicated by a minus sign. Round discount factor(s) to 3 decimal places, intermediate calculations and final answer to the nearest whole dollar amount.) Net present value