Required information [The following information applies to the questions displayed below) Cardinal Company is considering a five-year project that would require a $2,812,000 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: Sales $ 2,855,000 Variable expenses 1,010,000 Contribution margin 1,845,000 Fixed expenses Advertising, salaries, and other fixed out-of-pocket costs $ 798,000 Depreciation 562,400 1,360,400 Total fixed expenses 5 484,600 Net operating income Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using table. 3. 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.) Answer is complete but not entirely correct. Net present value $ (1,218,381)