14)

Phoenix Company can invest in each of three cheese-making projects: C1, C2, and C3. Each project requires an initial investment of $330,000 and would yield the following annual cash flows. (PV of $1,FV of $1,PVA of $1, andFVA of $1)(Use appropriate factor(s) from the tables provided. Negative amounts should be indicated by a minus sign.)

	C1	C2	C3
Year 1		$	46,000			$	130,000			$	214,000
Year 2			142,000				130,000				94,000
Year 3			202,000				130,000				82,000
Totals		$	390,000			$	390,000			$	390,000

(1)	Assuming that the company requires a 8% return from its investments, use net present value to determine which projects, if any, should be acquired.(Round your answers to the nearest whole dollar.)

chart values are based on cash inflow/outflow year Project C1 Pv factor present value Project C2 cash inflow/outflowPv factor present value project c3 cash inflow/outflowPv factor present value 1 2 3 year 0 1 2 3 year 0 1 2 3