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Required information [The following information applies to the questions displayed below.] Cardinal...

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Accounting

Required information
[The following information applies to the questions displayed below.]
Cardinal Company is considering a five-year project that would
require a $2,915,000 investment in equipment with a useful life of five
years and no salvage value. The company's discount rate is 12%. The
project would provide net operating income in each of five years as
follows:
(Hint. Use Microsoft Excel to calculate the discount factor(s).)
Assume a post-audit showed that all estimates (including total sales) were exactly
correct except for the variable expense ratio, which actually turned out to be 50%.
What was the project's actual net present value? (Negative amount should be
indicated by a minus sign. Round discount factor(s) to 3 decimal places,
intermediate calculations and final answer to the nearest whole dollar amount.)answer this
image

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