The following table contains information about four potential investment projects that Castle Corporation is considering. Project Life Project 5 Required Investment $ 900,000 $ 1,150,000 $ 1,400,000 $ 1,900,000 Acctg ROR 39.00% 21.00% 22.50% 22.20% Payback Period 3.6 4.8 4.5 2.5 NPV $469,750 $ 741,562 $ 219,92 $ 249, 258 Profitability Index 2.19 1.98 1.61 1.56 5 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