Following is information on two alternative investments being considered by Tiger Co. The company requires a 4% return from its investments. Project x1 $(100,000) Project x2 $(160,000) Initial investment Expected net cash flows in: Year 1 Year 2 Year 3 35,000 45,500 70,500 75,000 65,000 55,000 Compute the internal rate of return for each of the projects using Excel functions. Based on internal rate of return, indicate whether each project is acceptable. (Round your answers to 2 decimal places.) IRR Acceptable? Project X1 Project X2 % % Phoenix Company can invest in each of three cheese-making projects: C1, C2, and C3. Each project requires an initial investment of $294,000 and would yield the following annual cash flows. PV of $1. FV of $1. PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Year 1 Year 2 Year 3 Totals C1 $ 34,000 130,000 190,000 $354,000 C2 $118,000 118,000 118,000 $354,000 C3 $ 202,000 82,000 70,000 $ 354,000 1. Assume that the company requires a 9% return from its investments. Using net present value, determine which projects, if any, should be acquired. 2. Using the answer from part 1, is the internal rate of return higher or lower than 9% for Project C2? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume that the company requires a 9% return from its investments. Using net present value, determine which projects, if any, should be acquired. (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 Initial Investment Chart Values are Based on: !! Year Cash Inflow PV Factor = Present Value 1 11 II 2 3 11 Project C2 PV Factor Present Value Initial Investment Year Cash Inflow 1 2 11 3 Project C3 Initial Investment Year Cash Inflow PV Factor Present Value 1 2 11 11 3