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 20% each of the last three years. Casey is considering a capital budgeting project that would require a $3,500,000 investment in equipment with a useful life of five years and no salvage value. Pigeon Company?s discount rate is 16%. The project would provide net operating income each year for five years as follows: Click here to view Exhibit 13B-1 and Exhibit 13B-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.) 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? (Round percentage answer to 1 decimal place. i.e. 0.123 should be considered as 12.3%.) Simple rate of return %