Exercise 24-14 Computation and interpretation of net present value and internal rate of return LO P3, P4 Phoenix Company can invest in each of three cheese-making projects: C1, C2, and C3. Each project requires an initial investment of $300,000 and would yleld the following annual cash flows. (PV of $1. FV of $1. PVA of $1, and FVA of $) (Use appropriate factor(s) from the tables provided.) Year 1 Year 2 Year 3 rota 15 S 36,000 120,000 $204,000 120,000 120,000 132,000 192,000 84,000 72,000 $360, 000 $360,000 $360,000 Assume that the company requires a 9% return from its investments. Using net present value, determine which pro ects, i any should be acquired. (Negative net present values should be indicated with a minus sign. Round your answers to the nearest whole dollar.) on