Phoenix Company can invest in each of three cheese-making projects: C1, C2, and C3. Each project requires an initial investment of $318,000 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.) 2 points C2 C1 C3 42,000 $126,000 Year 1 Year 2 Year 3 Totals 90,000 78,000 126,000 126,000 $378,000 $378,000 378,000 138,000 198,000 eBook (1) Assume that the company requires a 8% 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 answers to the nearest whole dollar.) Hint Print Project C1 Initial Investment Chart Values are Based on: Year Cash Inflow X PV FactorPresent Value 2 0 Project C2 Initial Investment Year Cash Inflow x PV FactorPresent Value 2 points eBook Hint Project C3 Initial Investment Year Cash Inflow x PV FactorPresent Value 2