Phoenix Company is considering investments in projects Cland C2. Both require an initial investment of $324,000 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 ci $ 44,000 140,000 200,00 $ 384,000 Project C2 $ 128,000 128,888 128,000 $ 384,280 a. 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 C1 and (ii) Project C2? Required A Required B 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) Project C1 Initial Investment Chart Values are Based on: % Cash Inflow PV Factor Present Value = Year Year 1 Year 2 Year 3 = Project C2 Initial Investment Cash Inflow X PV Factor Present Value Year Year 1 Year 2 = Year 3 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 8% for (i) Project C1 and (ii) Project C2? Is the internal rate of return higher or lower than 3% for Project C1? (0) Is the internal rate of return higher or lower than 8% for Project C2?