The management of Revco Products is exploring four different investment opportunities. Information on the four projects under study follows: Investment required Present value of cash inflows Net present value Life of the project Internal rate of return 1 $(270,000) 336,140 $ 66,140 Project Number 2 3 $(450,000) $ (360,000) 522,970 433,400 $ 72,970 $ 73,400 4 $ ( 480,000) 567,270 $ 87,270 12 years 6 years 18% 3 years 19% 6 years 16% 14% The net present values above have been computed using a 10% discount rate. Limited funds are available for investment, so the company can't accept all of the available projects. Required: 1. Compute the profitability index for each investment project. 2. Rank the four projects according to preference, in terms of net present value, profitability index, and internal rate of return. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the profitability index for each investment project. (Round your answers to 2 decimal places.) Project Profitability Index 1 2 3 4