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Required information [The following information applies to the questions displayed below.] Cardinal Company is considering a five-year project that would require a $2,855,000 investment in

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Required information [The following information applies to the questions displayed below.] Cardinal Company is considering a five-year project that would require a $2,855,000 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: Click here to view Exhibit 148.1 and Exhibit 148-2, to determine the appropriate discount factor(s) using table. 6. What is the project's internal rate of return? 7. What is the project's payback period? (Round your answer to 2 decimal places.) 8. What is the project's simple rate of return for each of the five years? (Round your answer to 2 decimal places.)

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