Oxford Company has limited funds available for investment and must ration the funds among four competing projects. Selected information on the four projects follows Life of Internal Rate of Return Net Present Value $257,000 $202,360 $183,550 $160,450 the Project (years) (percent) Investment ProjectRequired $810,000 $650,000 $510,000 $710,000 18% 16% 19% 22% 13 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, second, and so forth Required 1. Compute the project profitability index for each project. (Round your answers to 2 decimal places.) Project Profitability Index 2. In order of preference, rank the four projects in terms of net present value, project profitability index and internal rate of return. Project Internal Rate Net Present Profitability of Return Value Index First preference Second preference Third preference Fourth preference