Required information The following information applies to the questions displayed below.) Cardinal Company is considering an 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: $2,861,000 1,101,000 1,760,000 Sales Variable expenses Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs Depreciation Total fixed expenses Not operating income $ 705,000 574,000 1,279,000 $ 481,000 Click here to view Exhibit 148-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using table. What is the present value of the project's annual net cash inflows? (Round your final answer to the nearest whole dollar amount.) Present value Prey 1 of 40 Next >