Return to questiorn 10 Problem 12-21 Preference Ranking of Investment Projects [LO12-5] 0.9 points The management of Revco Products is exploring four different investment opportunities. Information on the four projects under study follows: Project Number Investment required Present value of cash inflows at a (500,000) (450,000) (220,000) 420,000) 543,208 $ 43,208 6 years 526,502 76,502 12 years 267,185 47,185 12,422 6 years 432,422 12% discount rate Net present value Life of the projeot Internal rate of return 3 yeare 158 163 198 143 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. Answer is not complete Complete this question by entering your answers in the tabs below Required 1Required 2 Compute the project profitability index for each investment project. (Round your answers to 2 decimal places.)