8 points Eicies & Problems-Chot 24 Help Save & Sat Check my work Exercise 24-18 (Algo) Net present value, unequal cash flows, and internal rate of return LO P3, P4 Phoenix Company is considering investments in projects C1 and C2. Both require an initial investment of $318,000 and would yield the following annual net cash flows. (PV of $1 EV of St. PVA of $3 and EVA of 50 (Use appropriate factors from the tables provided) net cash flows Year 1 Year 2 Year 3 Total Project C Project 42,000 126,000 138,000 198,000 378,000 125,000 124,000 $370,000 a. The company requires a 8% return from its investments. Compute net present values using factors from Table 8.1 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 8% for Project C1 and 0 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 A Required B The company requires a 8% 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) Project C1 Year 1 Net Cash Flows Present Value of 1 at 8% Present Value of Net Cash Flows