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		Present Value of Cash Inflows		Life of the Project (years)	Internal Rate of Return
A	$	170,000	$	329,323	7	12	%
B	$	118,000	$	302,000	12	17	%
C	$	105,000	$	260,035	7	16	%
D	$	165,000	$	338,136	3	15	%

The net present values should be 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 profitability index for each project.

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