cardinal company is considering a project that would require a

Chei Cardinal Company is considering a project that would require a $2,975,000 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 $300,000. The company's discount rate is 14%. The project would provide net operating income each year as follows: Sales Variable expenses Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs Depreciation Total fixed expenses $2,735,000 1,000,000 1,735,000 $ 735,000 535,000 Net operating income 1,270,000 $ 465,000 Required: What are the project's annual net cash inflows? Annual net cash inflow