Cardinal Company is considering a five-year project that would require a $2,750,000 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: Sales $ 2,849,000 Variable expenses 1, 122,000 Contribution margin 1, 727,000 Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs $ 752,000 Depreciation 550,000 Total fixed expenses 1,302,600 Net operating income $ 425,000 Click here to view Exhibit 12B-1 and Exhibit 12B-2. to determine the appropriate discount factor(s) using table. Foundational 12-14 (Algo) 14. 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 45%. What was the project's actual payback period? (Round your answer Jo 2 decimal places.) Payback period years Cardinal Company is considering a five-year project that would require a $2,750,000 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: Sales $ 2,849,000 Variable expenses 1,122,000 Contribution margin 1,727,000 Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs $ 752,000 Depreciation 550,000 Total fixed expenses 1,302,000 Net operating income $ 425,000 Click here to view Exhibit 128-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using table. Foundational 12-15 (Algo) 15. 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 45%. What was the project's actual simple rate of return? (Round your answer to 2 decimal places.) Simple rate of return