12 Part 12 of 15 Required information. [The following information applies to the questions displayed below] Cardinal Company is considering a five-year project that would require a $2.812.000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 16%. The project would provide net operating income in each of five years as follows: Sales Variable expenses 52,855,000 1,010,000 2.845,000 S Contribution margin Fixed expenses Advertising, salaries, and other fixed out-of-pocket costs Depreciation 798,000 562,400 Total fixed expenses Het operating income 1,360,400 484,600 Click here to view Exhibit 128-1 and Exhibit 128-2. to determine the appropriate discount factor(s) using table 12. If the equipment had a salvage value of $300,000 at the end of five years, would you expect the project's simple rate of return to be higher, lower, or the same? O Higher Lower Same Help Save & Exit Submit