PROBLEM II-IIA Preference Ranking of Investment Projects [LO2] Austin Company is investigating four different investment opportunities. Information on the four projects under study is given below: CHECK FIGURE (1) Project profitability index for project 1 : 0.182 Because the company's required rate of return is 10%, a 10% discount rate has been used in the above present value computations. 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: a. Net present value. b. Project profitability index. c. Internal rate of return. 3. Which ranking do you prefer? Why