Oxford company has limited funds available for investment and must ration the funds among four competing projects. Selected information on the four projects follows: Project Investment Required NPV $160,000 $135,000 Life of the project IRR $44,323 18% 16% $42,000 $35,035 $38,136 The company wants your assistance in determining which project to accept first, second and so forth 12 $100,000 20% $175,000 3 22% 1. Compute the project profitability index for each project. Make sure to show your work. 2. Rank the projects (1-4) with 1 being the highest(best) ranking. Include your reasoning for your rankings