[The following information applies to the questions displayed below) Cardinal Company is considering a five-year project that would require a $2,805,000 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: Salon $ 2,741,000 Variable expenses 1,125,000 Contribution margin 1,616,000 Tixed expenses Advertising, salaries, and other fixed out-of-pocket conta $ 642,000 Depreciation 561,000 Total fixed expenses 1.203.000 Het operating income 413,000 Click here to view Exhibit 12B-1 and Exhibit 120-2, to determine the appropriate discount factor(s) using table hces Foundational 12-7 (Algo) 7. What is the project's payback period? (Round your answer to 2 decimal places.) Project's payback period years