Oxford Company has limited funds available for investment and must ration the funds among five competing projects. Selected information on the five projects follows: Life of the Project (years) Project A B Investment Required $ 579,000 290,000 589,000 608,000 455,000 Net Present Value $ 233, 100 130, 600 112,800 104,900 (5,500) C D E 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 B D 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 A Second preference B Third preference Fourth preference D Fifth preference E