3) Ursus, Inc., is considering a project that would have a ten-year life and would require a $1,000,000 investment in equipment. At the end of ten years, the project would terminate and the equipment would have no salvage value. The project would provide net operating income each year as follows (Ignore income taxes.) ales 000,00 1,400,00 600,00 Variable expenses ontribution margin Fixed expenses: Fixed out-of-pocket cash ex 00,00 100,000400,00 200,00 ciation Net operating income All of the above items, except for depreciation, represent cash flows. The company's required rate of return is 12% See separate Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using the tables provided. Required: a. Compute the project's net present value b. Compute the project's internal rate of return to the nearest whole percent c. Compute the project's payback period. d. Compute the project's simple rate of return