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Cardinal Company is considering a flve-year project that would require a $2,955,000 investment in equipment with a useful life of five years and no salvage

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Cardinal Company is considering a flve-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 18%. The project would provide net operating income in each of five years as follows: Click here to view Exhibit 128-1 and Exhibit.128-2, to determine the appropriate discount factor(s) using table. Foundational 12-8 (Algo) 8. What is the project's simple rate of return for each of the five years? (Round your answer to 2 decimal places.)

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