Cardinal Company is considering a five-year project that would require a $2,812,000 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: $ 2,855,80 1,010,000 1,845, eee Sales Variable expenses Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs Depreciation Total fixed expenses Net operating income $ 798,280 562,480 1,368,480 $ 484,689 5. What is the project profitability Index for this project? (Round your answer to 2 decimal places.) Project profitability index 6. What is the project's Internal rate of return? (Round your answer to nearest whole percent.) Project's internal rate of return 96 7. What is the project's payback period? (Round your answer to 2 decimal places.) Project's payback period years 8. What is the project's simple rate of return for each of the five years? (Round your answer to 2 decimal places.) Simple rate of return 996