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 \\( \\mathrm{C} 1 \\) and \\( \\mathrm{C} 2 \\). Both require an initial investment of \\( \\$ 336,000 \\) and would yleld 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.) a. 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. b. Using the answer from part a, is the internal rate of return higher or lower than \8 for (i) Project Cl 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. 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 foctor to 4 decimals. Round your answers to the nearest whole dollar.)