Phoenix Company can invest in each of three cheese-making projects: C1, C2, and C3. Each project requires an initial investment of $270,000 and would yield the following annual cash flows (PV of $1. FV of $1. PVA of $1, and EVA of $1) (Use appropriate factor(s) from the tables provided.) C1 C2 Year Year 2 Year 3 Totals $ 26,000 122,000 182,000 $330,000 $110,000 110,000 110, eee $330,000 C3 $194,000 74,000 62,000 $330,000 (1) 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 answers to the nearest whole dollar.) Project C1 Initial Investment Chart Values are Based on: Year Cash Inflow X PV Factor = Present Value Project C2 Initial Investment Year Cash Inflow 1 X PV Factor = Present Value 2 Project C3 Initial Investment Year Cash Inflow X PV Factor = Present Value