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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 the Project (years) 9 Project Net Present Value $532,160 $361,380 $233,224 $235,660 Investment Required $850,000 $670,000 $550,000 $750,000 Internal Rate of Return (percent) 24% 19% 20% 22% 14 9 5 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. Net Present Value Project Profitability Index Internal Rate of Return First preference Second preference Third preference Fourth preference