Required information [The following information applies to the questions displayed below.] Cardinal Company is considering a five-year project requiring a $2,945,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 18%. The project would provide net operating income in each of five years as follows: Click here to view Exhibit 14B-1 and Exhibit 14B-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