Problem 12-21 Preference Ranking of Investment Projects [L012-5] the four projects under The management of Revco Products is exploring four different investment opportunities. Information on study follows: Project Number $(630,000) (580,000) $(430,000) $(630,000) 708,680 Investment required Present value of cash inflows at a 667,97-665,926--$454,547-8,680- 484, 547 9% discount rate $37,970 85,926$ 54,547 78,680 3 years Net present value 12 years6years 6 years Life of the project Internal rate of return 168 138 12% 11% Because the company's required rate of return is 9%, a 9 above. Limited funds are available for investment, so the company can't accept all of the available projects % discount rate has been used in the present value computations Required: 1. Compute the project profitability index for each investment project. 2. Rank return. the four projects according to preference, in terms of net present value, project profitability index and internal rate of Complete this question by ent Required 1 Required 2 Compute the project profitability in Project Index Profitability 2 3 4 ects according to preference, in terms of net present value, project profitability index and internal rate of Rank the four proj return. Project Net Present Profitability of Return t Internal Rate Value Index First preference Second preference Third preference Fourth preference