Chapter 14 Foundational 15 Sovod Help Save & Exit Submit Check my wor 9 1 Part 9 of 15 Required information The following information applies to the questions displayed below) Cardinal Company is considering a five-year project that would require a $2,845,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 12%. The project would provide net operating income in each of five years as follows: 3 points $ 2,869,000 1,126.000 1,743,000 eBook Sales Variable expenses Contribution margin Fixed expenses Advertising, salaries, and other fixed out-of-pocket costs Depreciation Total fixed expenses Net operating income 5709,00 5694009 Print 1,278.00 $ 465,000 References Click here to view Exhibit.148.1 and Exhibit 14B-2 to determine the appropriate discount factor(s) using table 9. If the company's discount rate was 14% instead of 12%, would you expect the project's net present value to be higher, lower, or the same? O Higher Lower Same