00 8 Phoenix Company is considering investments in projects C1 and C2. Both require an initial investment of $288,000 and would yield the following annual net cash flows. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) 10 points Net cash flows Project C1 Project C2 $ Year 1 $ 32,000 116,000 eBook Year 2 128,000 116,000 Year 3 188,000 116,000 $ Totals Hint 348,000 348,000 Print 10 Reference a. The company requires a 9% return from its investments. Compute net present values using factors from Table B.1 in Appendix B to determine which projects, if any, should be accepted. b. Using the answer from part a, is the internal rate of return higher or lower than 9% for (i) Project C1 and (ii) Project C2? Hint: It is not necessary to compute IRR to answer this question. Complete this question by entering your answers in the tabs below. Required Required A B The company requires a 9% return from its investments. Compute net present values using factors from Table B.1 in Appendix B to determine which projects, if any, should be accepted. (Negative net present values should be indicated with a minus sign. Round your present value factor to 4 decimals. Round your answers to the nearest whole dollar.) Present Project C1 Net Cash Flows x Value of 1 at 9% Present Value of Net Cash Flows Year 1 Year 2 Year 3 Totals $ Project C2 Net Cash Flows Present x Value of 1 at 9% Year 1 Year 2 Year 3 Totals $ 0 Which projects, if any, should be accepted = Present Value of Net Cash Flows < Required A Required B >