Cardinal Company is considering a five-year project that would require a $2,750,000 investment in equipment with a useful life of five years and no salvage value. The companys discount rate is 18%. The project would provide net operating income in each of five years as follows:

Sales $ 2,849,000Variable expenses 1,122,000Contribution margin 1,727,000Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs$ 752,000 Depreciation550,000 Total fixed expenses 1,302,000Net operating income $ 425,000

3. What is the present value of the projects annual net cash inflows? (Round your final answer to the nearest whole dollar amount.)