I am stuck on requirement 4. I am unsure why my answer is incorrect. Can you please help me.

\fHearne Company has a number of potential capital investments. Because these projects vary in nature, initial investment, and time horizon, management is finding it difcult to compare them. Assume straight line depreciation method is used. {Future Value of $_1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.} {Use appropriate factor[s} from the tables provided} Project 1: Retooling Manufacturing Facility This project would require an initial investment of $4,850,000. It would generate $865,000 in additional net cash ow each year. The new machinery has a useful life of eight years and a salvage value of $1,000,000. Project 2: Purchase Patent for New Product The patent would cost $3,400,000, which would be fully amortized over five years. Production of this product would generate $425,000 additional annual net income for Hearne. Project 3: Purchase a New Fleet of Delivery Trucks Hearne could purchase 25 new delivery trucks at a cost of $115,000 each. The eet would have a useful life of 10 years, and each truck would have a salvage value of $5,000. Purchasing the eet would allow Hea me to expand its customer territory resulting in $200,000 of additional net income per year. Required: 1. Determine each project's accounting rate of return. 2 Determine each project's payback period. 3. Using a discount rate of 10 percent, calculate the net present value of each project. 4. Determine the profitability index of each project and prioritize the projects for Hearne