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 S1) (Use appropriate factor(s) from the tables provided.) Net cash flows Year 1 Year 2 Year 3 Totals Project C1 $ 28,000 124,000 184,000 $ 336,000 Project C2 $112,000 112,000 112,000 $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? 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.) Initial Investment Chart Values are Based on: Project C1 Year Cash Inflow X PV Factor Present Value Year 1 188,000 xx Year 2 Year 3 www Project C2 Initial Investment Year Year 1 Year 2 Year 3 Cash Inflow 0 PV Factor Present Value Required A Required B >