Cardinal Company is considering a five-year project that would require a $2,915,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 12%. The project would provide net operating income in each of five years as follows: $2,746,000 1,126,000 1,620,000 Sales Variable expenses Contribution margin Fixed expenses Advertising, salaries, and other fixed out-of-pocket costa Depreciation Total fixed expenses Not operating income $615,000 583,000 1,198,000 $ 422,000 Click here to view Exhibit 138-1 and Exhibit 13B-2. to determine the appropriate discount factor(s) using table. 3. What is the present value of the project's annual net cash inflows? (Round your final answer to the nearest whole dollar amount.) Present value