The following table contains information about four potential investment projects that Castle Corporation is considering. Project Required Investment $ 700,000 $ 950,000 $1,200,000 $1,700,000 Project Life 5 4 4 5 Acctg ROR 24.000 18.50 10.000 14.708 Payback Period 3.4 3.8 3.5 3.5 Profitability Index 1.66 2.18 1.41 1.36 NPV $ 264, 750 $ 248,562 $ 217, 420 $ 246,758 B D Required: 1. Rank the four projects in order of preference under each method indicated by the headers: Accounting Rate of Return Payback Period Net Present Value Profitability Index 1st preferred 2nd preferred 3rd preferred 4th preferred