Required information The Foundational 15 (Algo) [LO12-1, LO12-2, LO12-3, LO12-5, L012-6] The following information applies to the questions displayed below]. Cardinal Company is considering of five-year project that would require a $2,955,000 investment in equipment with o useful life of five years and no salvage value. The company's discount rate is 18%. The project would provide net operating incorne in each of flve years as follows: Click here to view Exhibit 1281 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.)