Remaining Time: 47 minutes, 31 seconds. Question Completion Status: QUESTION 18 Cardinal Company is considering a five-year project that would require a $2,500,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 12%. The project would provide net operating income in each of five years as follows: Sales Variable expenses $2,853,000 1,200,000 1,653,000 Contribution margin Fixed expenses. Advertising, salaries, and other out-of-pocket costs Depreciation $ 790,000 500,000 Total fixed expenses 1,290.000 Net operating income $ 363.000 (Hint Use Microsoft Excel to calculate the discount factor(s).) What is the project's simple rate of return for each of the five years? (Round your answer to 2 decimal places. 1.e. 0.12342 should be considered as 12.34%.) Click Save and Submit to save and submit. Click Save all answers to save all answers Save AI Angwors arch Di X W 31 DHC @ 1