Phoenix Company can invest in each of three cheese-making projects: C1, C2, and C3. Each project requires an initial investment of $240,000 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.) 14.28 points Year 1 Year 2 Year 3 Totals ci $ 16,000 112,000 172,000 $300,000 C2 $100,000 100,000 100,000 $300,000 C3 $184,000 64,000 52,000 $300,000 eBook 1. Assume that the company requires a 10% 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 10% for Project C2? Hint Complete this question by entering your answers in the tabs below. Print Required 1 Required 2 References Assume that the company requires a 10% 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 | $ 240,000 Chart Values are Based on: i = 10% PV Year Cash Inflow X Factor 16,000 112,000 x 172,000 x Present Value 2 Net present value Present value of cash inflows Present value of cash outflows Project C2 $ Initial Investment 240,000 PV Year Cash Inflow X Factor Present Value 2 100,000 x 100,000 100,000 Net present value Present value of cash inflows Present value of cash outflows Initial Investment Year Project C3 $ 240,000 PV Cash Inflow X Factor 184,000 x 1 64,000 x 52,000 x Present Value 2 3 Complete this question by entering your answers in the tabs below. Required 1 Required 2 --------- Using the answer from part 1, is the internal rate of return higher or lower than 10% for Project C2? Is the internal rate of return higher or lower than 10% for Project C2? Higher