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The Foundational 15 (LO12-1, L012-2, L012-3, LO12-5, LO12-6] (The following information applies to the questions displayed below) Cardinal Company is considering a five-year project that

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The Foundational 15 (LO12-1, L012-2, L012-3, LO12-5, LO12-6] (The following information applies to the questions displayed below) Cardinal Company is considering a five-year project that would require a $2,850,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 18%. The project would provide net operating income in each of five years as follows: $ 2,852,000 1,011,800 1,846,000 Sales Variable expenses Contribution margin Fixed expenses Advertising, salaries, and other fixed out-of-pocket costs Depreciation Total fixed expenses Net operating income $299,000 520,000 1,369.000 477,000 $ Click here to view Exhibit 1284 and Exhibit 28-2 to determine the appropriate discount factor(s) using table Foundational 12-6 6. What is the project's internal rate of return? (Round your answer to nearest whole percent.) Project's internal rate of return

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