The management of Revco Products is exploring four different investment opportunities. Information on the four projects under study follows:

Project Number 1 2 3 4

Investment required $ (270,000 ) $ (450,000 ) $ (360,000 ) $ (480,000 )

Present value of cash inflows at a 10% discount rate 336,140 522,970 433,400 567,270

Net present value $ 66,140 $ 72,970 $ 73,400 $ 87,270

Life of the project 6 years 3 years 12 years 6 years

Internal rate of return 18% 19% 14% 16%

Because the companys required rate of return is 10%, a 10% discount rate has been used in the present value computations above. Limited funds are available for investment, so the company cant accept all of the available projects.

Required: 1. Compute the project profitability index for each investment project. (Round your answers to 2 decimal places.)