Required information [The following information applies to the questions displayed below.] Cardinal Company is considering a five-year project that would require a $2,915,000 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- $ 781,000 583,000 of-pocket costs Depreciation $ 2,863,000 1,014,000 1,849,000 Total fixed expenses Net operating income 1,364,000 $ 485,000 Click here to view Exhibit 12B-1 and Exhibit 12B-2. to determine the appropriate discount factor(s) using table. 2. What are the project's annual net cash inflows? Annual net cash inflow 3. What is the present value of the project's annual net cash inflows? (Round your final answer to the nearest whole dollar amount.) Present value 4. What is the project's net present value? (Round final answer to the nearest whole dollar amount.) Net present value 7. What is the project's payback period? (Round your answer to 2 decimal places.) Project's payback period years 8. What is the project's simple rate of return for each of the five years? (Round your answer to 2 decimal places.) Simple rate of return %