Requlred Informatlon

The Foundational $15($Algo$)[$LO$12-1,$ LO$12-2,$ LO$12-3,$ LO$12-5,$ LO$12-6]$

$[$The following information applies to the questions displayed below.$]$

Cardinal Company is considering a five$-$year project that would require a $$2,765,000$ investment in equipment with a useful life of five years and no salvage value. The company's discount rate is $14\%.$ The project would provide net operating income in each of five years as follows:

Click here to view Exhibit $12$B$-1$ and Exhibit $12$B$-2,$ to determine the appropriate discount factor$($s$)$ using table.

Foundational $12-7($Algo$)$

$7.$ What is the project's payback period? $($Round your onswer to $2$ deelmal ploces.$)$

Project's payback period

years