Derrick Iverson is a divisional manager for Hoiston Company. His annual pay raises are largely determined by his division's retum on investment (ROI), which has been above 20% each of the last three years. Derrick is considering a capital budgeting project that would require a $4,480,000 investment in equipment with a useful life of five years and no salvage value. Holston Company's discount rate is 18%. The project would provide net operating income each year for five years as follows: Click here to view Exhibit 128-1 and Exhibit 128-2. to determine the appropriate discount factor(s) using tables. Required: 1. Compute the project's net present value 2. Compute the project's simple rate of return. 3a. Would the company want Derrick to pursue this investment opportunity? 3b. Would Derrick be inclined to pursue this investment opportunity? Complete this question by entering your answers in the tabs below. EXHIBTT 12B-1 Present Value of $1:(1+r)41 EXHIBIT 128-2 Present Value of an Annuity of $1 in Arrears, 1(1(1/(1+1)+n)) EXHIBIT 12B-1 Present Value of $1;f1 EXHIBIT 12B2