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 Cl and C2. Both require an initial investment of $240,000 and would yield the following annual net cash flows. (PV of \$1. EV of \$1. PVA of \$1 and EVA of \$1) (Use appropriate factor(s) from the tables provided.) a. The company requires a 10% 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 of lower than 10% for (i) Project Cl and (ii) Project C2? Hint: it is not necessary to compute IRR to answer this question. The company requires a 10% 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.) Complete this question by entering your answers in the tabs below. Using the answer from part a, is the internal rate of return higher or lower than 10% for (i) Project Cl and (i) Project C2? Hint: it is not necessary to compute IRR to answer this question. (i) Is the internal rate of return higher or lower than 10% for Project C1? (ii) Is the internal tato of retuen higher or lowor than 10% for Project C2