Information on four investment proposals is given below: Investment Proposal A B C D Investment required $ (118,000 ) $ (128,000 ) $ (98,000 ) $ (162,000 ) Present value of cash inflows 153,400 204,800 142,100 226,800 Net present value $ 35,400 $ 76,800 $ 44,100 $ 64,800 Life of the project 5 years 7 years 6 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.