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 23% each of the last three years. Casey is considering 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: $ 3,900,000 1,880, eee 2,100,000 Sales Variable expenses Contribution margin Fixed expenses! Advertising, salaries, and other fixed out-of-pocket costs Depreciation Total fixed expenses Net operating income $750,000 800, eee 1,550,000 $ 550,000 Click here to view Exhibit 138-1 and Exhibit 13B-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? 4-6. Would Casey be inclined to pursue this investment opportunity? Complete this question by entering your answers in the tabs below. Req 1 Reg 2 Reg 3 Reg 4A Reg 48 What is the project's net present value? (Round your final answer to the nearest whole dollar amount.)