[The following information applies to the questions displayed below.] Cardinal Company is considering...
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The following information applies to the questions displayed below. Cardinal Company is considering a fiveyear project that would require a $ investment in equipment with a useful life of five years and no salvage value. The company's discount rate is The project would provide net operating income in each of five years as follows: Sales Variable expenses Contribution margin Fixed expenses: Advertising, salaries, and other fixed outofpocket costs Depreciation Total fixed expenses Net operating income Click here to view Exhibit B and Exhibit B to determine the appropriate discount factors using table. 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 What was the project's actual payback period? Round your answer to decimal places. Payback period years 
The following information applies to the questions displayed below.
Cardinal Company is considering a fiveyear project that would require a $ investment in equipment with a useful life of five years and no salvage value. The company's discount rate is The project would provide net operating income in each of five years as follows:
Sales
Variable expenses
Contribution margin
Fixed expenses:
Advertising, salaries, and other fixed outofpocket costs Depreciation
Total fixed expenses
Net operating income
Click here to view Exhibit B and Exhibit B to determine the appropriate discount factors using table.
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 What was the project's actual payback period? Round your answer to decimal places.
Payback period
years
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