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Cardinal Company is considering a five$-$year project that would require a $$2,800,000$ 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 $12$B$-1$ and Exhibit $12$B$-2,$ to determine the appropriate discount factor$($s$)$ using table.

What is the project's simple rate of return for each of the five years? $($Round your answer to $2$ decimal places.$)$Cardinal Company is considering a five$-$year project that would require a $$2,800,000$ investment in equipment with a useful life of five years and no salvage value. The company$$s discount rate is $14\%.$ The project would provide net operating income in each of five years as follows:

Sales $ $2,845,000$

Variable expenses $1,109,000$

Contribution margin $1,736,000$

Fixed expenses:

Advertising, salaries, and other fixed out$-$of$-$pocket costs $ $799,000$

Depreciation $560,000$

Total fixed expenses $1,359,000$

Net operating income $ $377,000$

Click here to view Exhibit $12$B$-1$ and Exhibit $12$B$-2,$ to determine the appropriate discount factor$($s$)$ using table.

$8.$ What is the project$$s simple rate of return for each of the five year