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 $5,050,000 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 $ 4,700,000 2,120,000 2,580,000 Sales Variable expenses Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-ofpocket costs Depreciation Total fixed expenses Net operating income $830,000 1,010,000 1,840,000 $ 740,000 Click here to view Exhibit 8B-1 and Exhibit 8B-2, to determine the appropriate discount factor(s) using tables. Required: 1. What is the project's net present value? (Round discount factor(s) to 3 decimal places.) Net present value 2. What is the projects internal rate of return to the nearest whole percent? Internal rate of return 3. What is the projects simple rate of return? (Round percentage answer to 1 decimal place..e, 0.123 should be considered as 12.3%. ) Simple rate of return %