Required Information [The following information applies to the questions displayed below.) Cardinal Company is considering a five-year project that would require a $2.765,000 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: $ 2,851,8ee 1,15e,eee 1,701,820 Sales Variable expenses Contribution margin Fixed expenses: Advertising, salaries, and other fixed out- of-pocket costs Depreciation Total fixed expenses Net operating income $ 679,808 553, ega 1,223,eee $ 478, eee Click here to view Exhibit 12B-1 and Exhibit 12B-2. to determine the appropriate discount factor(s) using table. 6. What is the project's internal rate of return? Project's internal rate of return % 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 96