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 $5,800,000 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 Variable expenses Contribution margin Fixed expenses: of-pocket costs $ 5,100,000 2,280,000 2,820,000 Advertising, salaries, and other fixed out- $870,000 1,160,000 Total fixed expenses 2,030,000 $ 790,000 Depreciation Net operating income Click here to view Exhibit 12B-1 and Exhibit 128-2. 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-b. Would Casey be inclined to pursue this investment opportunity? Complete this question by entering your answers in the tabs below. Req 1 Req 21 Req 3 Req 4A Req 481 What is the project's net present value? (Round your final answer to the nearest whole dollar amount.) Not present value