Required information The Foundational 15 [L012-1, L012-2, L012-3, L012-5, L012-6) The following information applies to the questions displayed below.) Cardinal Company is considering a five-year project that would require a $2.975,000 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: $2,735,000 1,000,000 Sales Variable expenses Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs Depreciation Total Fixed expenses Net operating income $735,000 595,000 1,330,000 $405,000 Click here to view Ext 128-1 and Exhibit 12B-2. to determine the appropriate discount factor(s) using table Foundational 12-7 7. What is the project's payback period? (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Projects aytack period 3.00 3 years Required information The Foundational 15 (L012-1. L012-2, L012-3, LO12-5, L012-6) The following information applies to the questions displayed below) Cardinal Company is considering a five-year project that would require a $2,975,000 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: $2,735, Bee 1,000,000 11, 735, we Sales Variable expenses Contribution margin Fixed expenses: Advertising, salaries, and other fixed out of pocket costs Depreciation Total fixed expenses Net operating income $735,000 595,000 1,330,000 405,000 Click here to view Exhibit 128.1 and Exhibit 128:2. to determine the appropriate discount factor(s) using table. Foundational 12-13 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 45%. What was the project's actual net present value? (Negative amount should be indicated by a minus sign. Round discount factor(s) to 3 decimal places, intermediate calculations and final answer to the nearest whole dollar amount.) Answer is complete but not entirely correct. Net present value $ 334,934