Exercise 13-5 Preference Ranking LO13-5] Information on four investment proposals is given below: Investment Proposal Investment required Present value of cash inflows Net present value Life of the project $(60,000) (190,000) $ (110,000) $ (2,660,000) 3,551,000 $28,60070,600 58,600891,000 6 years 260,600 168,600 88,600 5 years 7 years 6 years Required 1. Compute the project profitability index for each investment proposal. (Round your answers to 2 decimal places.) 2. Rank the proposals in terms of preference Project Investment Profitability Preference Rank Proposal Index