Cardinal Company is considering a project that would require a $2.745,000 investment in equipment with useful life of five years. At the end of five years, the project would terminate and the equipment would sold for its salvage value of $500,000. The company's discount rate is 18%. The project would providen operating income each year as follows: Sales Variable expenses $ 2,857,000 1,011,000 1,846,000 Contribution margin Fixed expenses Advertising, salaries, and other fixed out-of-pocket costs Depreciation $ 799,000 449,000 Total fixed expenses 1,248,000 Net operating income $ 598.000 Click here to view Exhibit 10B-2, to determine the appropriate discount factor(s) using table. Required: What is the present value of the project's annual net cash inflows? (Round discount factor(s) to 3 decimal places and final answer to the nearest dollar amount.) Present value Meiji Isetan Corp. of Japan has two regional divisions with headquarters in Osaka and Yokohama. Selected data on the two divisions follow (in millions of yen, denoted by Y); Division Sales Net operating income Average operating assets Osaka Yokohama 5,535,000 10,900,000 398,520 1.100.000 1,640.000 5,450,000 Required: 1. For each division, compute the ROI in terms of margin and turnover. (Do not round intermediate calculations and round your final answers to 2 decimal places.) ROI Osaka division Yokohama division 96 %6 2. Assume that the company evaluates performance by use of RI and that the minimum required return for any division is 20%. Compute the Rl for each division RI Osaka division Yokohama division