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. FV of $1. PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Net cash flow Year 1 Yoar 2 Year 3 Totala Project ci $ 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 (1) Project C1 and (1) 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 decimals. Round your answers to the nearest whole dollar) Project C1 Initial Investment Chart Values are Based on: % Year Cash Inflow PV Factor II Present Value Year 1 Year 2 III Year 3 0 Project C2 Initial Investment Year Cash Inflow x PV Factor II Present Value Year 1 11 Year 2 I! Year 3 = 0 Required A Required B Using the answer from part a, is the internal rate of return higher or lower than 10% for (1) Project C1 and (ii) Project C2? Is the internal rate of return higher or lower than 10% for Project C1? () is the internal rate of return higher or lower than 10% for Project C2?