The management of Edelmann Corporation is considering the following three investment projects: Rank the projects according to the profitability index, from most profitable to least profitable. T, S, R R, T, S S, T, R T, R, S Harrison Corporation is studying a project that would have an eight-year life and would require a exist300,000 investment in equipment which has no salvage value. The project would provide net operating income each year as follows for the life of the project: The payback period for this project is closest to: 3 years 2 years 2.5 years 2.67 years