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24 Phoenix Company can invest in each of three cheese-making projects: C1, C2, and C3. Each project requires an initial investment of $240,000 and would yield the following annual cash flows. (PV of $1. FV of $1, PVA of $1, and FVA of $1 (Use appropriate factor(s) from the tables provided.) 20 points Year 1 Year 2 Year 3 Totals ci $ 16,000 112,000 172,000 $300,000 C2 $100,000 100,000 100,000 $300,000 C3 $184,000 64,000 52,000 $300,000 02:12:24 (1) Assume that the company requires a 10% return from its investments. Using net present value, determine which projects, if any, should be acquired. (Negative net present values should be indicated with a minus sign. Round your answers to the nearest whole dollar.) Project C1 Initial Investment Chart Values are Based on: Year Cash Inflow x PV Factor Present Value 1 2 3 Project C2 Initial Investment Year Cash Inflow X PV Factor Present Value 2 3 Project C3 Initial Investment Year Cash Inflow PV Factor Present Value 1 2 3

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