Information on four investment proposals is given below: Investment Proposal Investment required Present value of cash inflows Net present value Life of the project $ (900,000) $(170,000) $ (90,000) $ (1,430,000) 1,908,300 $ 363,600 $ 63,400 46,500 478,300 6 years 1,263,600 233,400 136,500 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 8