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 Year 1 Year 2 Year 3 Totals Project C1 $ 24,000 120,000 180,000 $ 324,000 Project C2 $ 108,000 108,000 108,000 $ 324,000 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 (i) Project C1 and (ii) 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 4 decimals. Round your answers to the nearest whole dollar.) Project C1 Initial Investment Chart Values are Based on: % Cash Inflow PV Factor Present Value 11 = Year Year 1 Year 2 Year 3 0 Project C2 Cash Inflow PV Factor Present Value Initial Investment Year Year 1 Year 2 Year 3 = = = II 11 0 Required A Required B > 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? 1) Is the internal rate of return higher or lower than 10% for Project C1? (1) Is the internal rate of return higher or lower than 10% for Project C2?