Cardinal Company is considering a five-year project that would require a $2,975,000 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: Click here to view Exhibit.128-1 and to determine the appropriate discount factor(s) using table. 7. What is the project's payback period? (Round your answer to 2 decimal places.) 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.) 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 project's 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 project's actual simple rate of return? (Round your answer to 2 decimal places.) XHIBIT 12B-1 \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline 25 & 0,375 & 0.295 & 0.213 & 0.1k4 & 0.146 & 0.116 & & 0074 & \begin{tabular}{|l|l|} 0009 \\ \end{tabular} & \begin{tabular}{|l|} 0047 \\ \end{tabular} & 0.038 & 000 & 0024 & 0.020 & 0016 & 0.013 & 0.010 & 0000 & 0.007 & 0.006 & 0.005 & 0.004 \\ \hline 26 & 0.361 & 0281 & 0.220 & 0.172 & 0.135 & 0.106 & 0004 & 0066 & 0053 & 0042 & 0013 & 0036 & 0.021 & 0017 & 0014 & 0011 & 0000 & 0.00 & 0.006 & 0.005 & 0.004 & 0.003 \\ \hline 27 & 037 & 0.268 & 0.207 & 0161 & 0125 & 0098 & 0.976 & 0060 & 0047 & 0.037 & 0029 & 0023 & 0018 & 0014 & 0.011 & 0.009 & 0007 & 0006 & 0.005 & 0.004 & 0.003 & 0.002 \\ \hline 28 & 0333 & 0.255 & 0.196 & 0150 & 0.116 & 0000 & 0009 & 0.054 & 0042 & 0023 & 0026 & 0030 & 0016 & 0.012 & 0010 & 0008 & 00006 & 0.005 & 0004 & 0.003 & 0.002 & 0002 \\ \hline 29 & 0.321 & 0243 & 0.105 & 0.141 & 0.107 & 0002 & 0063 & 004x & 0097 & 0029 & 0022 & 0017 & 0.014 & 0011 & 000x & 0006 & 0.005 & 0,04 & 0.003 & 0.002 & 0.002 & 0.002 \\ \hline 36 & 0301 & 0.231 & 0.174 & 0.131 & 0099 & 0075 & 0.057 & 0044 & 0013 & 0028 & 0030 & 0015 & 0012 & 0.009 & 0007 & 00005 & 0.004 & 0003 & 0,03 & 0002 & 0.002 & 0,001 \\ \hline 40 & 0.305 & 0.142 & 0097 & 0067 & 0046 & 0012 & 0022 & 0015 & 0011 & 0008 & oces & 0004 & 0003 & 0002 & 0001 & 0001 & 0001 & 0000 & & 0000 & 0000 & 0,000 \\ \hline \end{tabular} EXHIBIT 12B-2 Present Value of an Amauity of $1 in Arrears; 1/(1(1/(1+1)xn)) \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline cried & % & 5% & 6% & 7% & 8% & 9% & 10% & 11% & 12% & 13% & 14% & 15% & 16% & 17% & 18% & 19% & 20% & 21% & 24x & & 24% & \\ \hline 1 & 962 & 0.952 & & & 50 & 2917 & 0.909 & & & & & 080 & 862 & & & 840 & 833 & 0.826 & 0820 & 0813 & 0806 & 0.800 \\ \hline 8 & & & & & & & & & & & & & & 585 & & & & & 492 & 1.474 & & 1.460 \\ \hline & & & & & & & & & & & & & & & & & & & & 2011 & & 1952 \\ \hline 4 & & & & & & & & & & & & & & & & & & & 494 & & & \\ \hline 5 & & & & & & & & & & & & & & & & & & & & 803 & & \\ \hline 6 & & & & & & & & & & & & & & & & & & & 3.167 & 5092 & & 295 \\ \hline 7 & & & & & & & & & & & & & & & & & & & 3.416 & 27 & 3242 & 3.16 \\ \hline 8 & & & & & & & & & & & & & & & & & & & 3.619 & 3518 & & 3.3. \\ \hline 9 & & & & & & & & & & & & & & & & & & & & 3.673 & & 3,463 \\ \hline & & & & & & & & & & & & & & & & & & & & 3.799 & & 3571 \\ \hline & & & & & & & & & & & & & & & & & & & & & & \\ \hline & & & & & & & & & & & & & & & & & & & & & & 3725 \\ \hline & & & & & & & & & & & & & & & & & & & 4203 & 4053 & & 3.780 \\ \hline & & & & & & & & & & & & & & & & & & & 4.2 & 08 & & 3824 \\ \hline (1) & & & & & & & & & & & & & & & & & & & & 53 & & 39 \\ \hline & & & & & & & & & & & & 4 & & & & & & & 57 & 89 & & 3887 \\ \hline 1 & & & & & & & & & & & & 7 & & & & & & & 91 & 19 & & 3910 \\ \hline 1 & & & & & & & & & & & & 8 & & & & & & & 9 & 43 & & 3928 \\ \hline 15 & & & & & & & & & & & & 5 & & & & & & & 12 & 63 & n & 3942 \\ \hline 20 & & & & & & & & & & & & 99 & & & & & & & 60 & 79 & & 39 \\ \hline 21 & & 1 & & & & & & & & & & 12 & & & & & & & & 92 & & 39 \\ \hline 22 & & 13.163 & & & & & & & & & & 59 & & & & & & & & 02 & & 3 \\ \hline 21 & & 13,489 & & 11.272 & & & & & 7718 & & & 6390 & & & & & & & & & & \\ \hline 2 & & 13.799 & 12550 & 11.469 & 10529 & & & & 7784 & & & 6434 & 23 & & & & & & & & & \\ \hline 2 & & 14094 & 12783 & 1.654 & 10.675 & & 9.077 & & 7843 & & & 6.464 & 6097 & & & & & & & & & \\ \hline 2 & & 14375 & 13003 & 11526 & 1010 & & & 8.485 & & & & 6491 & & & & & & & & & & \\ \hline 2 & & 14643 & 13211 & 11987 & 10935 & 10027 & & 854k & 7943 & & & & & & & & & & & & & 1990 \\ \hline 25 & & 14595 & 13,406 & 12.137 & 11051 & 10116 & 907 & 800 & & & & & & & & & & & & & & \\ \hline & & & & & & & & & & & & & & 5820 & 5510 & 5229 & 4975 & 4763 & 4531 & 43374.83 & 4504131 & \\ \hline \end{tabular}