Phoenix Company can invest in each of three cheese-making projects: C1, C2, and C3. Each project requires an initial investment of $324,000 and would yield the following annual cash flows. (PV of $1,FV of $1,PVA of $1, andFVA of $1)(Use appropriate factor(s) from the tables provided.)

C1C2C3Year 1$44,000$128,000$212,000Year 2140,000128,00092,000Year 3200,000128,00080,000Totals$384,000$384,000$384,000

(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.)