Phoenix Company can invest in each of three cheese-making projects: C1,C2, and C3. Each project requires an initial investment of \$288,000 and would yield the following annual cash flows. (PV of \$1, FV of \$1, PVA of \$1, and (Use appropriate factor(s) from the tables provided.) 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? Using the answer from part 1 , is the internal rate of return higher or lower than 9% for Project C2? 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