Problem 12-21 Preference Ranking of Investment Projects [LO12-5] The management of Revco Products is exploring four different investment opportunities. Information on the four projects under study follows: Project Number 1 2 4 Investment required $(460,000) $ (410,000) $(310,000) (290,000) Present value of cash inflows at a 452 , 197 12 discount rate 499,752 349,441 336,350 S 39,752 42,197 S 39,441 46,350 Net present value Life of the project 12 years 6 years 15% 6 years 16% 3 years 21% Internal rate of return 148 Because the company's required rate of return is 12%, a 12% discount rate has been used in the present value computations above. Limited funds are available for investment, so the company can't accept all of the available projects. Required: 1. Compute the project profitability index for each investment project. 2. Rank the four projects according to preference, in terms of net present value, project profitability index and internal rate of return Complete this question by entering your answers in e tab w. Required 1 Required 2 Compute the project profitability index for each investment project. (Round your answers to 2 decimal places.) Profitability Index Project Required: 1. Compute the project profitability index for each investment project. 2. Rank the four projects according to preference, in terms of net present value, project profitability index and internal rate of retur Complete this question by entering your answers in the tabs below. Required 2 Required 1 Compute the project profitability index for each investment project. (Round your answers to 2 decimal places.) Profitability Index Project 1 2 3 4 Required 2 Required 1 Required: 1. Compute the project profitability index for each investment project. 2. Rank the four projects according to preference, in terms of net present value, project profitability index and internal rate of return. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Rank the four projects according to preference, in terms of net present value, project profitability index and internal rate of return. Project Profitability Index Net Present Value Internal Rate of Return First preference Second preference Third preference Fourth preference uired 1