Answer please

Cardinal Company is considering a project that would require a $2,985,000 investment in equipment with a useful life of five years, At the end of five years, the project would terminate and the equipment would be sold for its salvage value of $400,000. The company's discount rate is 16%. The project would provide net operating income each year as follows: Sales $2,737, 606 Variable expenses 1, 001,090 Contribution margin 1, 736, 000 Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs $610,090 Depreciation 517,090 Total fixed expenses 1, 127,090 Net operating income $ 609,090 Click here to view Exhibit 10-1 and Exhibit 10-2, to determine the appropriate discount factor(s) using tables. Required: What is the present value of the equipment's salvage value at the end of five years? (Round discount factor(s) to 3 decimal places and final answer to the nearest dollar amount.) Present value