Cardinal Company is considering a five$-$year project$$requiring a $$2,975,000$ 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 $$2,735$

Variable expenses $1,000$

Contribution margin $1,735$

$$

Fixed expenses:

Advertising, salaries, and other fixed out$-$of$-$pocket costs $$735,000$

Depreciation $595,000$

$$

Total fixed expenses $1,330$

Net operating income $$405$

$$

$$

$1.$ What is the present value of the project$$s annual net cash inflows?

Note: Round your final answer to the nearest whole dollar amount.

$2.$ What is the profitability index for this project?

Note: Round your answer to $2$ decimal places.

$3.$ What is the project$$s internal rate of return?

Note: Round your answer to nearest whole percent.

$4.$ Assume a postaudit showed all estimates $($including total sales$)$ were exactly correct except for the variable expense ratio, which actually turned out to be $45\%.$ What was the project$$s actual payback period?

Note: Round your answer to $2$ decimal places.