The Blake Company is considering three possible independent projects to invest in. Rank the projects from highest to lowest in profitability.

	A	B	C
NPV	16.25	27.1	54
Cost	15	24.8	50
Discount Rate	9.50%	10.15%	8.00%
Profitability index	1.0833	1.0927	1.0800

A) C, B, A

B) B, A, C

C) A, B, C

May someone explain how the probability index was reached ? I keep on getting the answer; however, it would be up by 1 each time. For example for project A I would receive "2.8033" after plugging in (NPV + Cost) / Cost. How do I plug in the Discount Rate, if it is relevant with the equation. If someone would enlighten me on this, I would highly appreciate it.