Gaston Company is considering a capital budgeting project that would require a $2,900,000 investment in equipment with a useful life of five years and no salvage value. The companys tax rate is 30% and its after-tax cost of capital is 13%. It uses the straight-line depreciation method for financial reporting and tax purposes. The project would provide net operating income each year for five years as follows: Sales $ 3,300,000 Variable expenses 1,570,000 Contribution margin 1,730,000 Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs $ 670,000 Depreciation 580,000 Total fixed expenses 1,250,000 Net operating income $ 480,000 Click here to view Exhibit 8B-1 and Exhibit 8B-2, to determine the appropriate discount factor(s) using tables. Required: Compute the projects net present value. (Round discount factor(s) to 3 decimal places.)