Cerritos Company can invest in each of three cheese$-$making projects: C$1,$ C$2,$ and C$3.$ Each project requires an initial investment of $$438,374$ and would yield the following annual cash flows.

$\backslash$table$[[,,$See my hints below$],[,,,$C$1,C2,$C$3],[,$Year $1,$$$,24,000,192,000,360,000],[,$Year $2,,216,000,192,000,120,000],[,$Year $3,,336,000,192,000,96,000],[,$Totals,,$576,000,576,000,576,000],[,,,,,],[$Required$,,,,,4]]$

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 C$2.$

C$-$ Compute the internal rate of return for project C$2$