Required information [The following information applies to the questions displayed below.) Cardinal Company is considering...
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Required information [The following information applies to the questions displayed below.) Cardinal Company is considering a five-year project that would require a $2,975,000 ifvestment in equipment with a useful life of five years and no salvage value. The company's discount rate is 14%. The project would provide net operating income in each of five years as follows: Click here to view Exbibit 148-1 and Exhibit.148-2, to determine the appropriate discount factor(s) using table. 13. Assume a postaudit showed that all estimates (including total sales) were exactly correct except for the variable expense ratio, which actually turned out to be 45%. What was the project's actual net present value? (Negative amount should be indicated by a minus sign. Round intermediate calculations and final answer to the nearest whole dollar amount.)
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