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Cardinal Company is considering a project that would require a $2,745,000 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 $500,000. The company's discount rate is 18%. The project would provide net operating income each year as follows: Sales $2,857,000 O Variable expenses 1,011,000 Contribution margin 1,846,000 Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs $ 799,000 Depreciation 449.000 Total fixed expenses 1,248,000 Net operating income $ 598,000 Click here to view Exhibit 108-1, to determine the appropriate discount factor(s) using table. Required: What is the present value of the equipment's salvage value at the end of five years? (Round discount factor(s) to 3 decimal places and final answer to the nearest dollar amount.) Present value