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 $5,380,000 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 $ 4,800,000 Variable expenses 2,160,000 Contribution margin 2,640,000 Fixed expenses: Advertising, salaries, and other fixed out-of- pocket costs $ 840,000 Depreciation 1,076,000 Total fixed expenses 1,916,000 Net operating income $ 724,000 Click here to view Exhibit 14B-1 and Exhibit 148-2, 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. Reqi Reg 2 Reg 3 Reg 4A Req 48 What is the project's net present value? (Round your final answer to the nearest whole dollar amount.) Net prosent value