Phoenix Company can invest in each of three cheese-making projects: C1, C2, and C3. Each project requires an initial investment of $276,000 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.) Year i Year 2 Year 3 Totals ci $ 28,000 124,000 184,000 $336,000 C2 $112,000 112,000 112,000 $336,000 C3 $196,000 76,000 64,000 $336,000 (1) Assume that the company requires a 9% return from Its Investments. Using net present value, determine which projects, if any, should be acquired. (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 1 2 3 Project C2 Initial Investment Year Cash Inflow x PV Factor II Present Value 1 2 3 1111 II Project C3 Initial Investment Year Cash Inflow PV Factor II Present Value 1 Il 2 3 Il