Required information The Foundational 15 (Algo) [LO12-1, L012-2, L012-3, L012-5, L012-6] [The following information applies to the questions displayed below.] Cardinal Company is considering a five-year project that would require a $2,800,000 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 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using table. Foundational 12-7 (Algo) 7. What is the project's payback period? (Round your answer to 2 decimal places.)