Saved Help Save & Exit Submit 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, FV of $1, PVA of $1, and EVA of $1 (Use appropriate factor(s) from the tables provided.) Net cash flows Project C1 Project C2 Year 1 $ 42,000 $ 126, 000 Year 2 138, 000 126, 000 Year 3 198, 000 126, 000 Totals $ 378, 000 $ 378, 000 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 (1) Project C1 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. 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) P C2? Hint: It is not necessary to compute IRR to answer this question. (i) Is the internal rate of return higher or lower than 8% for Project C1? (ii) Is the internal rate of return higher or lower than 8% for Project C2?