Required information [The following information applies to the questions displayed below.] Cardinal Company is considering a five-year project requiring a $2,810,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 16%. The project would provide net operating income in each of five years as follows: Sales Variable expenses Contribution margin Fixed expenses: Advertising, salaries, and other $ 2,847,000 1,121,000 1,726,000 fixed out-of-pocket costs Depreciation Total fixed expenses Net operating income $ 782,000 562,000 1,344,000 $ 382,000 Click here to view Exhibit 148-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using table. What is the project's payback period? Note: Round your answer to 2 decimal places, Project's payback period years Required information [The following information applies to the questions displayed below.)] Cardinal Company is considering a five-year project requiring a $2,810,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 16%. The project would provide net operating income in each of five years as follows: Sales Variable expenses Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs $ 2,847,000 1,121,000 1,726,000 Depreciation Total fixed expenses $ 782,000 562,000 1,344,000 $ 382,000 Net operating income Click here to view Exhibit 148-1 and Exhibit 148-2, to determine the appropriate discount factor(s) using table. 8. What is the project's simple rate of return for each of the five years? Note: Round your answer to 2 decimal places. Simple rate of retum % ! Required information [The following information applies to the questions displayed below.] Cardinal Company is considering a five-year project requiring a $2,810,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 16%. The project would provide net operating income in each of five years as follows: Sales Variable expenses Contribution margin Advertising, salaries, and other Fixed expenses: fixed out-of-pocket costs Depreciation Total fixed expenses $ 2,847,000 1,121,000 1,726,000 $ 782,000 562,000 1,344,000 $ 382,000 Net operating income Click here to view Exhibit 148-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using table. 9. If the company's discount rate was 18% instead of 16%, would you expect the project's net present value to be higher, lower, or the same? Net present value would be