Cardinal Company is considering a project that would require a $2,800,000 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 $2,845,000 1,109,000 Contribution margin 1,736,000 Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs Depreciation $799,000 500,000 Total fixed expenses 1,299,000 Net operating income Required: What are the project's annual net cash inflows? Annual net cash inflow $ 437,000