Phoenix Company is considering investments in projects C1 and C2. Both require an initial investment of $234,000 and would yield the following annual net cash flows. (PV of $1. EV of $1. PVA of $1. and EVA of $1) (Use appropriate factor(s) from the tables provided.) Net cash flows Year 1 Year 2 Year 3 Totals Project Cl $ 14,000 110,000 170,000 $294,000 Project C2 $ 98,000 98,000 98,000 $294,000 a. The company requires a 10% 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 10% for () Project C1 and (i) Project C2? Complete this question by entering your answers in the tabs below. Required A Required B The company requires a 10% 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 Initial Investment Chart Values are Based on: Year Cash Inflow PV Factor L Present Value 1 2 = 3 Project C2