The following table contains information about four potential investment projects that Castle Corporation is considering. Project Life Payback Period Project 3.5 Required Investment $ 880,000 $ 1,130,000 $ 1,380,000 $ 1,880,000 Acctg ROR 37.50% 20.75% 21.25% 21.45% Profitability Index 1.94 2.00 1.59 NPV $ 449, 250 $ 679,062 $ 219,670 $ 249,008 4.7 4.4 2.6 1.54 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