Phoenix Company can invest in each of three cheese-making projects: C1, C2, and C3. Each project requires an initial investment of $258,000 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 2 $ 22,000 118,000 178,000 $106,000 106,000 $190,000 70,000 58,000 Year 1 Year 2 106,000 Year 3 $318,000 $318,000 $318,000 Totals (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: j = Cash Present Year X PV Factor = Inflow Value 1 2 3 IIIII Project C2 Initial Investment Cash Present Year X PV Factor = Inflow Value 1 2 3 II Project C3 Initial Investment Cash Present XPV Factor = Year Inflow Value 2