ewconnect.mheducation.com%252F. Se D... BI Tax Document M Gmail YouTube Maps iz (Part 01) Saved Help Save & Exit Check my (The following information applies to the questions displayed below.) Cardinal Company is considering a five-year project that would require a $2,955,000 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: $2,871,000 1,010,000 1,853,000 Sales Variable expenses Contribution margin Fixed expenses Advertising, salaries, and other fixed out-of-pocket contin Depreciation Total fixed expenses Net operating income $ 753,000 591,000 1,344,000 $ 509,000 Click here to view Exhibit 12B-1 and Exhibit. 128-2, to determine the appropriate discount factor() using table. 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 to 2 decimal places.) w 10