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 FVA of $1) (Use appropriate factor(s) from the tables provided.) ci C2 ca Year 1 $ 32,000 $116,000 $200,000 Year 2 120,000 116,000 80,000 Year 3 188,000 116,000 68,000 Totals $348,000 $348,000 $340,000 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? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume that the company requires a 9% return from its investments. Using net present value, determine which projects, ir 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 S (288.000) Chart Values are based on: 91% Year Cash Intlow X PV Factor Present Value Required 1 Required 2 Assume that the company requires a 9% return from its investments. Using net present value, determine which projects, ir 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 S (288,000) Chart Values are Based on: 91% Year Cash Inflow PV Factor Present Value 32,000 2 120,000 3 188,000 X 1 0 Initial Investment Year Cash Inflow 1 Project C2 $ (288,000) x PV Factor Present Value 2 Sove $ Initial Investment Year Cash Inflow (288,000) PV Factor II Present Value 1 II II 2 3 3 11 0 Initial Investment Year Cash Inflow Project C3 $ -288,000 PV Factor = Present Value 1 = 2 1111 0 Route Required 2 >