Requlred Information

$[$The following information applies to the questions displayed below.$]$

Cardinal Company is considering a five$-$year project requiring a $$2,765,000$ 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:

Sales

Variable expenses

Contribution margin

Fixed expenses:

Advertising, salaries, and other fixed out$-$of$-$pocket costs

Depreciation

Total fixed expenses

Net operating income

$$2,851,00$

$1,150,00$

$1,701,000$

Click here to view Exhibit $14B-1$ and Exhibit $14B-2,$ to determine the appropriate discount factor$($s$)$ using table.

$8.$ What is the project's simple rate of return for each of the five years?

Note: Round your answer to $2$ declmol ploces.

Simple rate of return

$\%$