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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 company's discount rate is $16\%.$ 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 $45\%.$ 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.$)$