The management of Cottingham & Butler Corporation is analyzing the following four investment proposals: Investment required Present value of cash inflows Net present value Life of the project Investment Proposal A B D $(190,000) $(180,000) $(170,000) $ (980,000) 267,400 249,400 259, 300 1,197,500 $ 77,400 $ 69,400 $ 89,300 $ 297,500 5 years 7 years 6 years 6 years Required: 1. Compute the project profitability index for each investment proposal. (Round your answers to 2 decimal places.) 2. Rank the proposals in terms of preference. Required: 1. Compute the project profitability index for each investment proposal. (Round your answers to 2 decimal places.) 2. Rank the proposals in terms of preference. Answer is complete but not entirely correct. Investment Project Rank Proposal Profitability Preference Index A 1.41 Second 1.39 Third C 1.53 X First B >> >> . D 1.33 X Fourth