Required Information (The following information applies to the questions displayed below.) Cardinal Company is considering a five-year project that would require a $3,025,000 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 $ 2,737,000 Variable expenses 1,801,000 Contribution margin 1,736,000 Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs $ 610,000 Depreciation 605,000 Total fixed expenses 1,215,000 Net operating income $ 521,000 Click here to view Exhibit 12B-1 and Exhibit 128-2. to determine the appropriate discount factor(s) using table. 7. What is the project's payback period? (Round your answer to 2 decimal places.) Project's payback period years