14. 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 projects actual payback period? (Round your answer to 2 decimal places.)

15. 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 projects actual simple rate of return? (Round your answer to 2 decimal places.)

1. Which item(s) in the income statement shown above will not affect cash flows? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

Sales

Variable expense

Advertising, salaries, and other fixed out-of-pocket costs expenses

Depreciation expense

Required information The Foundational 15 [LO12-1, LO12-2, LO12-3, LO12-5, L012-6] The following information applies to the questions displayed below.] Cardinal Company is considering a five-year project that would require a $2,955,000 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 Contribution margin Fixed expenses: 2,871,000 1,018,000 1,853,000 Advertising, salaries, and other fixed out-of-pocket costs Depreciation 753,000 591,000 Total fixed expenses Net operating income $509,000 Click here to view Exhibit 12B-1 and Exhibit 128-2, to determine the appropriate discount factor(s) using table