[The following information applies to the questions displayed below.] Cardinal Company is considering a five-year project that would require a $2,915,000 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: out-of-pocket costs $ 2,863,000 1,014,000 1,849,000 Advertising, salaries, and other fixed $ 781,000 583,000 Total fixed expenses 1,364,000 $ 485,000 Depreciation Net operating income Click here to view Exhibit 12B-1 and Exhibit 12B-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 %