Phoenix Company is considering Investments in projects C1 and C2 Both require an initial investment of $258.000 and would yield the following annual net cash flows. (PV of $1. FV of $1. PVA of S1, and FVA of 1) (Use appropriate factor(s) from the tables provided.) Project a Project C2 Net cash flows Year 1 Year 2 Year 3 Totals $ 22,000 118,000 178,000 5 318,000 $ 106,000 186,000 106,000 5 315,000 a. The company requires a 10% return from its investments. Compute net present values using factors from Table B1 in Appendix B to determine which projects, if any, should be accepted. b. Using the answer from parte, is the internal rate of return higher or lower than 10% for (1) Project Cland (10) Project C2? 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 X PV Factor Present Value Year Year 1 Year 2 Year 3 0 Project 2 Project C2 Initial Investment Year Cash Inflow X PV Factor Present Value Year 1 11 = Year 2 Year 3 II 0 Required By Using the answer from part a, is the internal rate of return higher or lower than 10% for (1) Project Cland (1) Project C27 ) 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?