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 $$5,950,000$ 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:

Sales

Variable expenses

Contribution margin

Fixed expenses:

Advertising, salaries, and other fixed outof$-$pocket costs

Depreciation

Total fixed expenses

Net operating income

$\backslash$table$[[\backslash$table$[[$$$89,0$