[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 companys discount rate is 14%. The project would provide net operating income in each of five years as follows:

Sales		$ 2,735,000
Variable expenses		1,000,000
Contribution margin		1,735,000
Fixed expenses:
Advertising, salaries, and other fixed out-of-pocket costs	$ 735,000
Depreciation	595,000
Total fixed expenses		1,330,000
Net operating income		$ 405,000

13. 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 projects 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.)