Phoenix Company is considering investments in projects C1 and C2. Both require an initial investment of $246,000 and would yield the following annual net cash flows. (PV of $1. EV of $1 PVA of $1. and EVA OLS1) (Use appropriate factor(s) from the tables provided.) Net cash flows Year 1 Year 20 Year 3 Totals Project C1 $ 18,000 114,000 174,000 $ 306,000 Project C2 $ 102,000 102,000 102,000 $306,000 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 (0) 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 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 Year 11 Year 2 Net Cash Flows X Present Value of 1 at 10% Present Value of Net Cash Flows "