Casey Nelson is a divisional manager for Pigeon Company. His annual pay raises are largely determined by his division's return on investment (ROI), which has been above 22% each of the last three years. Casey is considering a capital budgeting project that would require a $3,900,000 investment in equipment with a useful life of five years and no salvage value. Pigeon Company's discount rate is 18%. The project would provide net operating income each year for five years as follows Sales $3,800,000 Variable expenses 1,760,000 Contribution margin 2,040,000 Fixed expenses Advertising, salaries, and other fixed out-of-pocket costs $740,000 780,000 Depreciation Total fixed expenses 1,520,000 520,000 Net operating income Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using tables Required: 1. What is the project's net present value? (Round discount factor(s) to 3 decimal places.) Net present value