Phoenix Company can invest in each of three cheese-making projects: C1, C2, and C3. Each project requires an initial investment of $282,000 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 Year 1 Year 2 Year 3 Totals $ 30,000 114,000 $198,000 114,000 114,000 126,000 186,000 78,000 66,000 $342,000 342,000 $342,000 (1) Assuming that the company requires a 9% return from its investments, use net present value to determine which projects, if any should be acquired. (Round your answers to the nearest whole dollar.) Project C1 Initial Investment Chart Values are Based on: YearCash Inflow x PV Factor Present Value Project C3 Initial Investment YearCash Inflow x PV Factor Present Value Project C2 Initial Investment Year Cash Inflow x PV FactorPresent Value