Casey Nelson is a divisional manager for Pigeon Company, Hls 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 $4,450,000 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: $ 4,300,000 1,960,000 2,340,000 Sales Variable expenses Contribution margin Fixed expenses Advertising, salaries, and other fixed out-of-pocket costa Depreciation Total fixed expenses Not operating income $ 790,000 890,000 1,680,000 $ 660,000 Click here to view Exhibit 78-1 and Exhibit 7B-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? 4-6. 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 Reg 4 Reg 48 What is the project's net present value? (Round your final answer to the nearest whole dollar amount.) Net present value