Casey Nelson is a divisional manager for Pigeon Company. His annual pay raises are largely determined by his division's return on Investment (Ron, which has been above 20% each of the last three years. Casey is considering a capital budgeting project that would require a $3,600,000 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: $3,500,000 1,640,000 1,860,000 Sales Variable expenses Contribution margin Pixed expenses Advertising, salaries, and other fixed out-of-pocket costs Depreciation Total Lixed expenses Het operating Income $710,000 720,000 1.430,000 430,000 Click here to view Exhibit 148-1 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. Would the company want Casey to pursue this investment opportunity? 4-6. Would Casey be inclined to pursue this investment opportunity? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Re 4A Reg 45 What is the project's net present value? (Round your Moal answer to the nearest whole dollar amount.) Net present value