Cardinal Company is considering a five-year project that would require a $2,810,000 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: Click here to view Exhibit 128-1 and Exhibit 128-2, to determine the appropriate discount factor(s) using table. Assume a postaudit showed that all estimates (including total sales) were exactly correct except for the variable expense ratio, ich actually turned out to be 45%. What was the project's actual simple rate of return? (Ronnt your answer to 2 decimal places.) Cardinal Compony is considering a flive-year project that would require a $2,810,000 investment in equlpment with a useful life of five years and no salvoge value. The company's discount rate is 16%. The project would provide net operating income in each of five years as follows: Click here to view Exhibit 12B-1 and Exhibit 128-2, to determine the appropriate discount factor(s) using tabie. 14. Assume a postaudit showed that all estimates (including total sales) were exactly corme cept for the variable expense ratio, which actually turned out to be 45%. What was the project's actual payback period? (R answer to 2 decimal places.)