Phoenix Company is considering investments in projects C1 and C2. Both require an initial investment of $264,000 and would yield the following annual net cash flows. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Net cash flows Project C1 Project C2 Year 1 $ 24,000 $ 108.000 Year 2 120,000 108,000 Year 3 180,000 108,000 Totals $ 324,000 $ 324,000 a. The company requires a 10% return from its investments. Compute net present values using factors from Table 3.1 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 (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 10% return from its investments. Compute net present values using factors from Table 3.1 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.) Phoenix Company is considering investments in projects C1 and C2. Both require an initial investment of $264,000 and would yield the following annual net cash flows. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Net cash flows Project C1 Project C2 Year 1 $ 24,000 $ 108.000 Year 2 120.000 108.000 Year 3 180.000 103.000 Totals $ 324,000 $ 324,000 a. The company requires a 10% return from its investments. Compute net present values using factors from Table 3.1 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 (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 Using the answer from part a, is the internal rate of return higher or lower than 10% for (i) Project C1 and (ii) Project C2? Hint: It is not necessary to compute IRR to answer this question. (i) Is the internal rate of return higher or lower than 10% for Project C1? (ii) Is the internal rate of return higher or lower than 10% for Project CZ?