Phoenix Company is considering investments in projects C1 and C2. Both require an initial investment of $306,000 and would yield the following annual net cash flows. (PV of $1. EV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Net cash flows, Project C1 Year 1 Year 2 Year 3 Totals $ 38,000 134,000 194,000 $ 366,000 Project C2 $ 122,000 122,000 122,000 $ 366,000 a. The company requires a 9% return from its investments. Compute net present values using factors from Table B.1 in Appendix B to determine which projects, if any, should be accepted. b. Using the answer from part a, is the internal rate of return higher or lower than 9% for (1) Project C1 and (ii) Project C2? Hint: It is not necessary to compute IRR to answer this question. Complete this question by entering your answers in the tabs below. Required A Required B The company requires a 9% return from its investments, Compute net present values using factors from Table B.1 in Appendix B to determine which projects, if any, should be accepted. (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 Net Cash Flows Present Value of Present Value of The company requires a 9% return from its investments. Compute net present values using factors from Table B.1 in Appendix B to determine which projects, if any, should be accepted. (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 Net Cash Flows Year 1 Year 2 Year 3 Totals Present Value of -1 at 9% Present Value of Net Cash Flows Project C2 Net Cash Flows Present Value of 1 at 9% Present Value of Net Cash Flows Year 1 Year 2 Totals Year 3 Which projects, if any, should be accepted Required B>