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	Net Present Value	Life of the Project (years)	Internal Rate of Return (percent)
A	$860,000	$420,400	8	22%
B	$750,000	$244,420	13	16%
C	$710,000	$367,670	8	23%
D	$910,000	$231,200	4	21%

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.)

2.	In order of preference, rank the four projects in terms of net present value, project profitability index and internal rate of return.