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 24% each of the last three years. Casey is considering a capital budgeting project that would require a $4,800,000 investment in equipment with a useful life of five years and no salvage value, Pigeon Company's discount rate is 20%. The project would provide net operating income each year for five years as follows: $4,500,000 2,040,000 2,460,000 Sales Variable expenses Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs Depreciation Total fixed expenses Net operating income 5810,000 960,000 1,770,000 690,000 Click here to view Exhibit 148.1 and Exhibit 14B-2. to determine the appropriate discount factors 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