Japter 12 Foundational 15 i 13 Saved t 13 of 15 B kipped Required information The Foundational 15 (Algo) [LO12-1, LO12-2, LO12-3, LO12-5, LO12-6] [The following information applies to the questions displayed below] Cardinal Company is considering a five-year project that would require a $2.955,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 16%. The project would provide net operating income in each of five years as follows: Sales Variable expenses Contribution margin Fixed expenses: Book Advertising, salaries, and other fixed out- $ 753,000 591,000 of-pocket costs Depreciation: Total fixed expenses $2,871,000 1,018,000 1,853,000 1,344,000 Print Net operating income erences $ 509,000 Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using table. Foundational 12-13 (Algo) 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 intermediate calculations and final answer to the nearest whole dollar amount.) Net present value