Derrick Iverson is a divisional manager for Holston Company. His annual pay raises are largely determined by his division's return on investment (RO), which has been above 20% each of the last three years. Derrick is considering a capital budgeting project that would require a $3,000,000 imvestment in equipment with a usefuil tife of five years and no salvage value. Holston Company's discount rate is 15\%. The project would provide net operating income each year for five years as follows: Click here to view Exhibizes, and Exhibie 28:2, to determine the appropriate discount factor(5) using tables. Required: 1 Compute the projects net present value. 2. Compute the projects 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. Compute the project's net present value. Note: Round your final answer to the neares: whole dollar amount. 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 $3,000,000 investment in equlpment with o useful life of five years and no salvage value. Holston Company's discount rate is 15\%. The project would provide net operating income each year for five years as follows: Click here to view Exhibit 78-1 and Exhibit 78-2, 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 retum. 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 thit tabs below. Compute the project's simple rate of return