Casey nelson is a divisional manager for pigeon company. his annual pay raises are largely determined by his division’s return on investment (roi), which has been above 22% each of the last three years. casey is considering a capital budgeting project that would require a $3,900,000 investment in equipment with a useful life of five years and no salvage value. pigeon company’s discount rate is 18%. the project would provide net operating income each year for five years as follows: sales $ 3,800,000 variable expenses 1,760,000 contribution margin 2,040,000 fixed expenses: advertising, salaries, and other fixed out-of-pocket costs $ 740,000 depreciation 780,000 total fixed expenses 1,520,000 net operating income $ 520,000 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 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-b. would casey be inclined to pursue this investment opportunity?