Cardinal Company is considering a five-year project that would require a $2,755,000 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 Fixed expenses: Contribution margin $ 2,875,000 1,124,000 1,751,000 Advertising, salaries, and other fixed out-of-pocket costs $ 721,000 Depreciation 551,000 Total fixed expenses 1,272,000 $479,000 Net operating income 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.) Present value