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 $2,845,000 irvestrnent in equipment with a useful life of tive years and no saivage value. The company's discount fate is 12%. The project would provide net operating income in each of five years as follows: Click here to view Exhibet 1281 and Exhibit128-2, to determine the appropilate discount factor(s) using table. Foundational 12-7 (Algo) 7. What is the project's payback period? (Round your answer to 2 decimal pleces.)