Casey Nelson is a divisional manager for Pigeon Company. His annual pay raises are largely determined by his divisions 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 $4,100,000 investment in equipment with a useful life of five years and no salvage value. Pigeon Companys discount rate is 19%. The project would provide net operating income each year for five years as follows: Sales $ 4,000,000 Variable expenses 1,840,000 Contribution margin 2,160,000 Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs $ 760,000 Depreciation 820,000 Total fixed expenses 1,580,000 Net operating income $ 580,000 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 projects net present value? 2. What is the projects internal rate of return to the nearest whole percent? 3. What is the projects 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?