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:

$($Hint$.$ Use Microsoft Excel to calculate the discount factor$($s$).)$

Assume a post$-$audit showed that all estimates $($including total sales$)$ were exactly

correct except for the variable expense ratio, which actually turned out to be $50\%.$

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