Phoenix Company is considering investments in projects C1 and C2. Both require an initial investment of $222,000 and would yield the following annual net cash flows. (PV of $1, FV of $1, PVA of $1, and FVA of $1) Note: Use appropriate factor(s) from the tables provided. Net cash flows Year 1 Project C1 Project C2 $ 10,000 Year 2 106,000 $ 94,000 94,000 Year 3 166,000 94,000 $ $ Totals 282,000 282,000 a. The company requires a 12% 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 12% for (i) 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 12% 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. Note: 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 x Present Value of 1 at 12% Present Value of Net Cash Flows Year 1 Year 2 Year 3 Totals 0 Project C2 Net Cash Flows x Present Value of 1 at 12% Present Value of Net Cash Flows Year 1 Year 2 Year 3 = Totals $ 0 Which projects, if any, should be accepted Required A Required B > Show less