MGMT8500 - Final Exam i Saved Help Save & Exit Submit Cardinal Company is considering a project that would require a $2,745,000 investment in equipment with a useful life of five years. At 9 the end of five years, the project would terminate and the equipment would be sold for its salvage value of $500,000. The company's discount rate is 18%, The project would provide net operating income each year as follows: Sales $2, 857, 800 25 Variable expenses 1,011, 060 points Contribution margin 1, 846,600 Fixed expenses: 8 015029 Advertising, salaries, and other fixed out of pocket costs $ 799,000 Depreciation 449,000 Total fixed expenses 1, 248, 000 Net operating income $ 598,060 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 project's annual net cash inflows? (Round discount factor(s) to 3 decimal places and final answer to the nearest dollar amount.) Present value Mc