Exercise 24-18 (Algo) Net present value, unequal cash flows, and internal rate of return LO P3, P4 Year 1 Year 2 $ 112,000 Phoenix Company is considering investments in projects C1 and C2. Both require an initial investment of $276,000 and would yield the following annual net cash flows. (PV of $1. FV of S1. PVA of S1, and FVA of S1) (Use appropriate factor(s) from the tables provided.) Net cash flown Project i Project 2 $ 28,000 124,000 112.000 Year 3 184,000 $336,000 $ 336,000 a. The company requires a 9% return from its investments, Compute net present values using factors from Table B1 in Appendix B to determine which projects, if any, should be accepted. b. Using the answer from parta, is the internal rate of return higher or lower than 9% for (1) Project C1 and (WProject C2? 112,000 Totals Complete this question by entering your answers in the tabs below. Required A Required B The company requires a 9% 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 arest whale dollar) Project C1 Initial Investment Chart Values are Based on: % Cash Inflow Year Year 1 DC PV Factor Prosent Value Year 2 Year 3 es 0 Project C2 Initial Investment Year Cash Inflow X PV Factor li Present Value = Year 1 Year 2 Year 3 11 Complete this question by entering your answers in the tabs below. Required A Required B Using the answer from part o, is the internal rate of return higher or lower than 9% for (1) Project C1 and (1) Project C27 () is the internal rate of return higher or lower than 9% for Project C1? (1) is the internal rate of return higher or lower than 9% for Project C2?