Safari File Edit View History Bookmarks Window Help Q 8 0 Fri Jun 24 1:44 PM ... > ezto.mheducation.com + 88 Student -... PRM-1111... M Inbox - sil... M Question.. C Cardinal C... C Cardinal C... Paraphrase.. C Existing.. C Cardinal ... Dashboard DOCX Quiz #6 covering Chapter 10 i Saved Help Save & Exit Submit are Project ...1 Group 3 3 Foundational 10-7 (LO1 - CC3, 4; LO2 - CC10, 13, 14) Cardinal Company is considering a project that would require a $2,865,000 investment in equipment with a useful life of five years. At the end of five years, the project would terminate and the equipment would be sold for its salvage value of $300,000. The company's discount rate is 12%. The project would provide net operating income each year as follows: ications 2 points Sales $2, 869, 000 01:00:23 Variable expenses 1, 126, 000 DOCX Contribution margin 1, 743, 000 Fixed expenses: Assignment Advertising, salaries, and other fixed out-of-pocket A...0242058 costs $ 709, 000 Depreciation 513, 000 Total fixed expenses 1, 222, 000 Net operating income $ 521, 000 Required: What is the project's payback period? (Round your answer to 2 decimal places.) DOCX IMENT2- Project's payback period years 0242058 ocx Domnic r letter Mc Domnic Graw r letter Hill JUN 24 W