1) Cerritos Company can invest in each of three cheese-making projects: C1,C2, and C3. Each project requires an initial investment of $438,374 and would yield the following annual cash flows. Required A- Assuming that the company requires a 12% return from its investments, use net present value to determine which projects, if any, should be acquired. B- Using the answer from part 1, explain whether the internal rate of return is higher or lower than 12% for project C2. C- Compute the internal rate of return for project C2 Check: 3) IRR = approx 15% 1) Cerritos Company can invest in each of three cheese-making projects: C1,C2, and C3. Each project requires an initial investment of $438,374 and would yield the following annual cash flows. Required A- Assuming that the company requires a 12% return from its investments, use net present value to determine which projects, if any, should be acquired. B- Using the answer from part 1, explain whether the internal rate of return is higher or lower than 12% for project C2. C- Compute the internal rate of return for project C2 Check: 3) IRR = approx 15%