Cardinal Company is considering a five-year project that would require a $2,855,000 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		$ 2,867,000
Variable expenses		1,125,000
Contribution margin		1,742,000
Fixed expenses:
Advertising, salaries, and other fixed out-of-pocket costs	$ 706,000
Depreciation	571,000
Total fixed expenses		1,277,000
Net operating income		$ 465,000

Click here to view Exhibit 7B-1 and Exhibit 7B-2, to determine the appropriate discount factor(s) using table.

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 50%. What was the projects actual net present value?

Note: Negative amount should be indicated by a minus sign. Round intermediate calculations and final answer to the nearest whole dollar amount.