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The following information applies to the questions displayed below.$]$

Cardinal Company is considering a five$-$year project that would require a $$2,975,000$ investment in equipment with a

useful life of five years and no salvage value. The company's discount rate is $14\%.$ The project would provide net operating

income in each of five years as follows:

Click here to view Exhibit $14$B$-1$ and Exhibit $14$B$-2,$ to determine the appropriate discount factor$($s$)$ using table.

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.$)$