Derrick Iverson is a divisional manager for Holston Company. His annual pay raises are largely determined by his division's return 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 $3,050,000 investment in equipment with a useful life of five years and no salvage value. Holston Company's discount rate is 16%. The project would provide net operating income each year for five years as follows: Click here to view Exhibit 1481 and Exhibit 1482, to determine the appropriate discount factor(s) using tables. Compute the project's net present value. (Round your final answer to the nearest whole dollar amount.) Complete this question by entering your answers in the tabs below. Compute the project's simple rate of return. (Round your answer to 1 decimal place I.e. 0.123 shou 12.3%.)