Foundational [LO13-1, LO13-2, LO13-3, LO13-5, LO13-6] [The following information applies to the questions displayed below.] Cardinal Company is considering a five-year project that would require a $2,915,000 investment in equipment with a useful life of five years and no salvage value. The companys discount rate is 12%. The project would provide net operating income in each of five years as follows: Sales $ 2,746,000 Variable expenses 1,126,000 Contribution margin 1,620,000 Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs $ 615,000 Depreciation 583,000 Total fixed expenses 1,198,000 Net operating income $ 422,000

What is the projects net present value? (Round discount factor(s) to 3 decimal places and final answer to the nearest whole dollar amount.)