Cardinal Company is considering a five-year project that would require a $3,025,000 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: $ 2,737,000 1,001,000 1,736,0e0 Advertising, salaries, and other fixed out-of-pocket costs Depreciation 610,000 605,000 Total fixed expenses Net operating income 1,215,000 $ 521,000 Click here to view Exhibit 128-1 and Exhibit 128-2. to determine the appropriate discount factor(s) using table EXHIBIT 12B-2 Present Value of an Annuity of $1 in Arrears; 1 Periods 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 1 0.962 0.952 0.943 0.935 0.926 0.917 0.909 0.901 0.893 0.885 0.877 0.870 0.862 21.886 1.859 1.833 1.808 1783 1.759 1736 1713 1690 1.668 1647 1626 1605 3 2.775 2.723 2673 2.624 2.577 2.531 2.487 2.444 2.402 2.361 2.322 2.283 2.246 4 3.630 3.546 3.465 3.387 3.312 3.240 3170 3.102 3.037 2.974 2.914 2.855 2798 5 4.452 4.329 4.212 4.100 3.993 3.890 3.791 3.696 3.605 3.517 3.433 3.352 3.274 EXHIBIT 12B-1 Present Value of $1; Periods 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 1 0.962 0.952 0.943 0.935 0.926 0.917 0.909 0.901 0.893 0.885 0.877 0.870 0.862 2 0.925 0.907 0.890 0.873 0857 0.842 0.826 0.812 0.797 0.783 0.769 0.756 0.743 3 0.889 0.864 0.840 0.816 0794 0.772 0.751 0731 0712 0693 0675 0658 0641 4 0.855 0.823 0.792 0763 0735 0708 0.683 0659 0.636 0.613 0.592 0.572 0.552 5 0822 0.784 0747 0.713 0.681 0.650 0.621 0.593 0.567 0543 0.519 0497 0.476 Question: What is the project's simple rate of return for each of the five years? (Round your answer to 2 decimal places.) Answer: Question: Assume a post audit showed that all estimates (including total sales) were exactly correct except for the variable expense ratio, which actually turned out to be 50%, what was the project's actual net present value? (Negative amount should be indicated by a minus sign. Round discount factor(s) to 3 decimal places, intermediate calculations and final answer to the nearest whole dollar amount) Answer: Question: Assume a postaudit showed that all estimates (including total sales) were exactly correct except for the variable expense ratio, which actually turned out to be 50%, what was the project's actual payback period? (Round your answer to 2 decimal places.) Answer:____ Question: Assume a postaudit showed that all estimates (including total sales) were exactly correct except for the variable expense ratio, which actually turned out to be 50%, what was the project's actual simple rate of return? (Round your answer to 2 decimal places.)