1 a capital budgeting project that would require a $4,000,000 investment in equipment with a useful life of five years and no salvage value. Pigeon Company's discount rate is 19%. The project would provide net operating income each year for five years as follows: Sales $ 3,900,000 Variable expenses 1,800,000 Contribution margin 2,100,000 Fixed expenses: Advertising, salaries, and other fixed out-of- pocket costs $ 750,000 Depreciation 800,000 Total fixed expenses 1,550,000 Net operating income $ 550,000 Click here to view Exhibit 148-1 and Exhibit 148-2. to determine the appropriate discount factor(s) using tables. Required: 1. What is the project's net present value? 2. What is the project's internal rate of return to the nearest whole percent? 3. What is the project's simple rate of return? 4-a. Would the company want Casey to pursue this investment opportunity? 4-5. Would Casey be inclined to pursue this investment opportunity? Complete this question by entering your answers in the tabs below. Req! Reg 2 Req3 Reg 4 Reg 40 What is the project's net present value? (Round your final answer to the nearest whole dollar amount.)