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Exercise 24-18 (Algo) Net present value, unequal cash flows, and internal rate of return LO P3, P4 $ 102,000 Year 2 Phoenix Company is considering investments in projects Ct and C2 Both require an initial investment of $246,000 and would yield the following annual net cash flows (PV of $1. FV OR $1. PVA of $1. and EVA of S1) (Use appropriate factor(s) from the tobles provided.) Net cash flows Project Project cz Year 1 $ 18,000 114,000 102,000 Years 174,000 102, $ 306.000 $ 306,000 o. The company requires a 10% return from its investments. Compute net present values using factors from Table B1 in Appendix 8 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 10% for (1) Project C1 and (6) Project C22 Hint it is not necessary to comnute IRR anewar the nextinn Totals The company requires a 10% return from its investments. Compute net present values using factors from Table B.1 ir Appendix B to determine which projects, if any, should be accepted. (Negative net present values should be indicated minus sign. Round your present value factor to 4 decimals. Round your answers to the nearest whole dollar.) Project C1 Net Cash Flows Present Value of 1 at 10% 0.9091 S 11 Year 1 Year 2 Year 3 18,000 114,000 174,000 306,000 OO x x 0.8265 07513 >>IS Totals $ Present Value of Net Cash Flows $ 16,364 94,221 130,726 $ 241,311 246,000 $ 22,689 Present Value of Net Cash Flows 92,728 84,303 Initial investment Net present value DI >$ Project C2 Net Cash Flows Year 1 Present Value of 1 at 10% 0.9091 0 8265 $ Year 2 102,000 102,000 HH