The following table contains information about four potential investment projects that Castle Corporation is considering. Project A B C D Required Investment 520,000 $ 770,000 $ 1,020,000 $ 1,520,000 Project Life 5 4 4 5 Acctg ROR 10.50% 16.25% 12.25% 7.95% Payback Period 3.3 2.9 2.6 3.2 NPV $ 82,250 $ 82,062 $ 215,170 $ 244,508 Profitability Index 1.38 1.10 1.23 1.18 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 2 Which method is the best for evaluating the investments? Net present value Accounting rate of return Payback period Profitability index