$[$The following information applies to the questions

Cardinal Company is considering a five$-$year project that would require a $$2,855,000$ 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 outof$-$pocket costs Depreciation Total fixed expenses Net operating income

Click here to view Exhibit $12$B$-1$ and Exhibit $12$B$-2,$ to determine the appropriate discount factor$($s$)$ using table.

Foundational $12-6($Algo$)$

$6.$ What is the project's internal rate of return?

Project's internal rate of return

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