The Foundational 15 (Algo) [LO12-1, LO12-2, LO12-3, LO12-5, LO12-6] [The following information applies to the questions displayed below] Cardinal Company is considering a five-year project that would require a $2,850,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 18%. The project would provide net operating income in each of five years as follows: Sales Variable expenses $ 2,857,000 1,011,000 1,846,000 Contribution margin Fixed expenses: Advertising, salaries, and other fixed out- of-pocket costs $ 799,000 Depreciation 570,000 Total fixed expenses Net operating income 1,369,000 $ 477,000 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 ame Present value 17