Required information [The following information applies to the questions displayed below.] Cardinal Company is considering a five-year project that would require a $2,870,000 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: Sales $2, 861, 090 Variable expenses 1, 101, 090 Contribution margin 1, 760, 090 Fixed expenses: Advertising, salaries, and other out-of- pocket costs $705, 000 Depreciation 574, 900 Total fixed expenses 1, 279, 090 Net operating income $ 481,090 (Hint. Use Microsoft Excel to calculate the discount factor(s).) 12. 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