Cardinal Company is considering a project that would require a $2,500,000 investment in equipment with a useful life offive years. At the end of five years the project would terminate and the equipment would be sold for its salvage value of $200,000. The company's 1 1 discount rate is 12%. The project would provide net operating income each year as follows: Sales $2,853,966 Variable expenses 1,266,666 Contribution margin 1,653,666 Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs $796,666 Depreciation 466,666 Total 'Fixed expenses 1,256,666 Net operating income $ 463,666 Click here to view Exhibit 10-1 and Exhibit 10-2, to determine the appropriate discount factor(s) using tables. Required: What is the present value of the equipment's salvage value at the end of ve years? (Round discount factor(s) to 3 decimal places and nal answer to the nearest dollar amount.) E