Required information The Foundational 15 (Algo) LO14-1, LC14-2, LO14-3, LO14-5, LO14-6) [The following information applies to the questions displayed below.) Cardinal Company is considering a five-year project that would require a $2,500,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 12%. The project would provide net operating Income in each of five years as follows: $2,853,000 1,200,000 1,653,800 Sales Variable expenses Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs Depreciation Total fixed expenses Net operating income $790,000 500,000 1,290,000 363,000 Click here to view Exhibit 148-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using table. Foundational 14-7 (Algo) 7. What is the project's payback period? (Round your answer to 2 decimal places.)