Please solve and highlight, circle, or BOLD PRINT answers. 3 part question. Cardinal Company is considering a five-year project that would require a $2.890,000 investment in equipment with project would provide net operating income in each of five years as follows: useful life of five years and no salvage value. The companys discount rate is 12%. The Sales Varlable expenses Contribution margin Fixed expenses: Advertising. salaries, and other S 2,739,000 1.100,000 1,639,000 fixed out-of-pocket costs Depreciation Total fixed expenses Net operating Income S 641000 578,000 1.219,000 420,000 Click here to view Exhibit 88-1 and Exhibit 8B-2. to determine the appropriate discount factor(s) using tables. 7A. What is the project's payback period? (Round your answer to 2 decimal places.) 7B. What is the project's simple rate of return for each of the five years? (Round your answer to 2 decimal places. i.e. 0.12342 should be considered as 12.34%.) TCF the company's discount rate was 14% instead of 12%, would you expect the project's net present value to be higher, lower, or the same? ct's payback period years rate of return Higher,Lower, OR Same