Phoenix Company is considering investments in projects C1 and C2. Both require an initial investment of $276,000 and would yield the following annual net cash flows. (PV of $1. EV of $1. PVA of $1, and EVA of $1) Note: Use appropriate factor(s) from the tables provided. Net cash flows: Year 1 Year 2. Year 3 Totals Project Ci Project C21 $112,000 $ 28,000 124,000 184,000 112,000 112,000 $ 336,000 $ 336,000 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 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. 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 Year 1 Net Cash Flows x Present Value of 1 at 9% Present Value of Net Cash Flows Year 2 Year 3 Totals $ 0 Project C2 Net Cash Flows Present Value x of 1 at 9% Present Value of Net Cash Flows Year 1 Year 2 Year 3 Totals $ 0 Which projects, if any, should be accepted Show less A Required A Required 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. (0) Is the internal rate of return higher or lower than 9% for Project C1? (i) Is the internal rate of return higher or lower than 9% for Project C2? < Required A Higher Lower