Phoenix Company is considering investments in projects C1 and C2. Both require an initial investment of $318,000 and would yield the following annual net cash flows. (PV of $1, EV of $1. PVA of $1, and EVA of \$1) (Use appropriate factor(s) from the tables provided.) o. The company requires a 8% 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 8% for (i) Project Cl 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. The company requires a 8% 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.)