Required information [The following information apples to the questions displayed below) 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: Sales $ 2,735,000 Variable expenses 1.000.000 Contribution margin 1,735,000 Tixed expenses Advertising, salaries, and other fixed out- of-pocket coats Depreciation 595,000 Total fixed expenses 1,330,000 net operating income $.405,000 Click here to view Exhibit 148-1 and Exhibit 14B-2. to determine the appropriate discount factor(s) using table. $ 735,000 1 9. If the company's discount rate was 16% Instead of 14%, would you expect the project's net present value to be higher lower, or the same? O Higher Lower Same