Phoenix Company is considering investments in projects C1 and C2. Both require an initial investment of $312,000 and would yield the following annual net cash flows. (PV of $1. FV of $1. PVA of $1. and EVA of $1) (Use appropriate factor(s) from the tables provided.) Net cash flows Project C1 Project C2 Year 1 $ 40, 80e $ 124, 099 Year 2 136, 809 124, 098 Year 3 196, 09e 124, 09e Totals $ 372,090 $ 372,090 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 (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 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) Project C1 Net Cash Flows Present Value Present Value of of 1 at 9% Net Cash Flows Year 1 = fear 2 Year 3 Totals Project C2 Present Value Net Cash Flows of 1 at 9% =1 Present Value of Net Cash Flows Year 1 Year 2 11 11 11 Year 3 Totals Which projects, if any, should be accepted Phoenix Company is considering investments in projects C1 and C2. Both require an initial investment of $312,000 and would yield the following annual net cash flows. (PV of $1. FV of $1. PVA of $1. and EVA of $1) (Use appropriate factor(s) from the tables provided.) Net cash flows Project C1 Project C2 Year 1 $ 40, 808 $ 124, 09e Year 2 124, 090 Year 3 124, 090 Totals $ 372,60e $ 372, 090 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 (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 9% 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 9% for Project C1? (ii) Is the internal rate of return higher or lower than 0% for Project C2?