Information on four investment proposals is given below: Investment Proposal A B C D Investment required $ (720,000) $ (160,000) $ (130,000) $ (1,560,000) Present value of cash inflows 1,013,000 221,800 198,900 2,081,400 Net present value $ 293,000 $ 61,800 $ 68,900 $ 521,400 Life of the project 5 years 7 years 6 years 6 years Required: 1. Compute the profitability index for each investment proposal. (Round your answers to 2 decimal places.) 2. Rank the proposals in terms of preference.