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Phoenix Company is considering investments in projects Cl and C2. Both require an initial investment of $228,000 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 12% 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 intemal rate of return higher or lower than 12% for (0) Project C1 and (ii) Project C2? Hint: it is not necessary to compute IRR to answer this question. Answer is not complete. Complete this question by entering your answers in the tabs below. The company requires a 12% return from its investments. Compute net present values using factors from Table 8.1 in Appendix B to determine. which projects, if any, should be accepted. (Negative net present values should be indicated with a Appendix B to determine. which profects, minus sion. Round your present value factor to 4 decimals. Round your answers to the nearest whole dollar.)