Required information The Foundational 15 (Algo) (LO14-1, LO14-2, 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 $2,945,000 Investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 18%. The project would provide net operating Income in each of five years as follows: Sales Variable expenses $2,873,000 1,019,000 1,854,000 Contribution margin- Fixed expenses: out-of-pocket costs Advertising, salaries, and other fixed Depreciation Total fixed expenses $ 754,000 589,000 1,343,000 $511,000 Net operating income Click here to view Exhibit 148-1 and Exhibit 148-2. 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.)