Oxford Company has limited funds available for investment and must ration the funds among five competing projects. Selected information on the five projects follows: Project A B C D E Investment Required $500,000 603,000 346,000 653,000 644,000 Net Present Value $ 155,000 132,000 111,300 103, 100 (28,500) Life of the Project (years) 7 12 7 3 6 The net present values above have been computed using a 10% discount rate. The company wants your assistance in determining which project to accept first, which to accept second, and so on. Required: 1. Compute the profitability index for each project. (Round your answers to 2 decimal places.) Project Profitability Index A B C E 2. In order of preference, rank the five projects in terms of (a) net present value, (b) profitability index. Net Present Value Profitability Index First preference Second preference Third preference Fourth preference Fifth preference