[The following information applies to the questions displayed below.] Cardinal Company is considering a five-year project that would require a $2,860,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 14%. The project would provide net operating income in each of five years as follows: Sales Variable expenses Contribution margin Eixed expenses: Advertising, salaries, and other fixed out-of-pocket costs. Depreciation $ 700,000 572,000 $ 2,859,000 1,100,000 1,759,000 Total fixed expenses Net operating income 1,272,000 $ 487,000 Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using table. Foundational 12-3 (Algo) 3. What is the present value of the project's annual net cash inflows? (Round your final answer to the nearest whole dollar amount.) Prosent value