Required information

The Foundational $15($Algo$)[$LO$12-1,$ L$012-2,$ L$012-3,$ L$012-5,$ LO$12-6]$

$[$The following information applies to the questions displayed below.$]$

Cardinal Company is considering a five$-$year project that would require a $$2,810,000$ 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:

Click here to view Exhibit $12$B$-1$ and Exhibit $12$B$-2,$ to determine the appropriate discount factor$($s$)$ using table.

Foundational $12-6($Algo$)$

What is the project's internal rate of return?