Casey Nelson is a divisional manoger for Pigeon Company His annual pay ralses are largely determined by his division's return on nvestment (ROn) which has been above 23\% each of the iast three years, Casey is consideding a captal budgeting project that would require a $5,620,000 invesument in equipment with a useful life of five years and no salvage value. Pigeon Company/s discount rate is 19\%. The project would provide net operating income each year for five years as follows: Clek here to vew Exhibl 78-1 and Evhlat 78-2 to determine the appropriate discount factor(s) using tables Pfequired: 1. What is the project's net present value? 2. What is the project's internal rate of retum to the nearest whole percent? 3. What is the project's simple rate of return? 4 a. Would the company wont Casey to pursue this investment opportunity? 4.b. Woold Casey be inclined to pursue thes investment opportunity? Complete this question by antering your answers in the tabs below. What is the projects internal rete of return? What is the projects imternal rate of return? Note: Fobund your aniwner to the noareit mhole neroentage, te. 0.123 thould be consiberid a 12