Saved Help Save & Exi Chee The Foundational 15 [L013-1, LO13-2, LO13-3, LO13-5, LO13-6] [The following information applies to the questions displayed below] Cardinal Company is considering a five-year project that would require a $2,755,000 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: Sales Variable expenses Contribution margin Fixed expenses: $2,875,000 1,124,000 1,751,000 Advertising, salaries, and other fixed out-of-pocket costs Depreciation $721,000 551,000 Total fixed expenses Net operating income 1,272,000 $479,000 Click here to view Exhibit 13B1 and Exhibit 13B-2. to determine the appropriate discount factorfs) using table Foundational 13-8 8. What is the project's simple rate of return for each of the five years? (Round your answer to 2 decimal places.) F- 1 % le rate of return of rev 8 9 Next : 15- of 115.11 10