Required information The Foundational 15 (Algo) [LO12-1, LO12-2, LO12-3, LO12-5, LO12-6] [The following information applies to the questions displayed below.] Cardinal Company is considering a five-year project that would require a $2,860,000 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: Sales Variable expenses Contribution margin Fixed expenses: $ 2,859,000 1,100,000 1,759,000 Advertising, salaries, and other fixed out-of-pocket costs Depreciation $ 700,000 572,000 Total fixed expenses Net operating income 1,272,000 $ 487,000 Click here to view Exhibit 12B-1 and Exhibit 128-2, to determine the appropriate discount factor(s) using table. 5. What is the profitability index for this project? (Round your answer to 2 c Profitability index 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 Mc 8. What is the project's simple rate of return for each of the five years? (Round your answ Simple rate of return % Foundational 12-9 (Algo) 9. If the company's discount rate was 16% instead of 14%, would you expect the project's net present value to be higher, lower, or the same? Higher O Lower O Same 10. If the equipment had a salvage value of $300,000 at the end of five years, would you expect the project's payback period to be higher, lower, or the same? Higher O Lower O Same 11. If the equipment had a salvage value of $300,000 at the end of five years, would you expect the project's net present value to be higher, lower, or the same? O Higher O Lower Same 12. If the equipment had a salvage value of $300,000 at the end of five years, would you expect the project's simple rate of return to be higher, lower, or the same? O Higher O Lower Same Foundational 12-13 (Algo) 13. Assume a postaudit showed that all estimates (including total sales) were exactly correct except for the variable expense ratio, which actually turned out to be 50%. What was the project's actual net present value? (Negative amount should be indicated by a minus sign. Round intermediate calculations and final answer to the nearest whole dollar amount.) Net present value Foundational 12-14 (Algo) 14. Assume a postaudit showed that all estimates (including total sales) were exactly correct except for the variable expense ratio, which actually turned out to be 50%. What was the project's actual payback period? (Round your answer to 2 decimal places.) Payback period years 15. Assume a postaudit showed that all estimates (including total sales) were exactly correct except for the variable expense ratio. which actually turned out to be 50%. What was the project's actual simple rate of return? (Round your answer to 2 decimal places.) Simple rate of return %