6. What is the projects internal rate of return? (Round your answer to nearest whole percent.)

7. What is the projects payback period? (Round your answer to 2 decimal places.)

Required information [The following information applies to the questions displayed below. Cardinal Company is considering a five-year project that would require a $2,755,000 investment 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: $2,875,000 1,124,000 1,751,000 Sales Variable expenses Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs Depreciation $ 721,000 551,000 Total fixed expenses Net operating income 1,272,000 $479,000 Click here to view Exhibit 13B-1 and Exhibit 138-2, to determine the appropriate discount factor(s) using table