Phoenix Company can invest in each of three cheese-making projects: C1, C2, and C3. Each project requires an initial investment of $318,000 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.) C1 C2 C3 $210,000 90,000 78,000 $ 42,000 138,000 198,000 $126,000 126,000 126,000 Year 1 Year 2 Year 3 $378,000 $378,000 $378,000 Totals (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.) Project C1 Initial Investment Chart Values are Based on: i = Year Cash Inflow PV Factor Present Value 1 2 = 3 = 0 Project C2 Initial Investment Year Cash Inflow PV Factor Present Value 1 2 3 0 Project C3 Initial Investment Year Cash Inflow PV Factor Present Value X 2 3