Information on four investment proposals is given below: Investment required Present value of cash inflows Net present value Life of the project Investment Proposal B D $ (420,000) $ (200,000) $ (170,000) $ (2,400,000) 589,700 276,400 259, 700 3,203,000 $ 169, 700 $ 76,400 $ 89,700 $ 803,000 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 Investment Profitability Rank Proposal Index Preference A Second Third First D Fourth B