Information on four investment proposals is given below Investment Proposal Investment required Present value of cash inflows Net present value Life of the project s(66,000) $(70,000) $(40,000) $ (990,e00) 88,9097,300 64,200 1,318,700 s 28,000 $ 27,300 24,200 328,700 s 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. 3 Answer is complete but not entirely correct. Project nvestment Profitability Preference Proposal Rank Index 1.47 Second .39 Third 161 First 1 33 ) Fourth