Required information The Foundational 15 [LO13-1, LO13-2, L013-3, LO13-5, LO13-6] The following information applies to the questions displayed below. Cardinal Company is considering a five-year project that would require a $2,812,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 16%. The project would provide net operating income in each of five years as follows Sales Variable expenses Contribution margin Fixed expenses: $2,855, 000 1,010,000 1,845,000 Advertising, salaries, and other fixed out-of-pocket costs Depreciation $798,000 562,400 Total fixed expenses Net operating income 1,360,400 $ 484,600 Click here to view Exhibit 13B-1 and Exhibit 138-2, to determine the appropriate discount factor(s) using table Foundational 13-14 14. 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 payback period? (Round your answer to 2 decimal places.) Payback period years 15. 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 simple rate of return? (Round your answer to 2 decimal places.) Simple rate of return