The management of Winstead Corporation is considering the following three investment projects (Ignore income taxes.): Investment required Present value of cash inflows Project Q $ 46,400 $ 50,104 Project S $ 150,500 Project R $ 84,900 $ 97,524 $ 165,525 The only cash outflows are the initial investments in the projects. Required: Rank the investment projects using the project profitability index. Rank 1 Rank 2 Rank 3 The management of Winstead Corporation is considering the following three investment projects (Ignore income taxes.): Investment required Present value of cash inflows Project Q $ 46,400 $ 50,104 Project S $ 150,500 Project R $ 84,900 $ 97,524 $ 165,525 The only cash outflows are the initial investments in the projects. Required: Rank the investment projects using the project profitability index. Rank 1 Rank 2 Rank 3 The management of Winstead Corporation is considering the following three investment projects (Ignore income taxes.): Investment required Present value of cash inflows Project Q $ 46,400 $ 50,104 Project S $ 150,500 Project R $ 84,900 $ 97,524 $ 165,525 The only cash outflows are the initial investments in the projects. Required: Rank the investment projects using the project profitability index. Rank 1 Rank 2 Rank 3 The management of Winstead Corporation is considering the following three investment projects (Ignore income taxes.): Investment required Present value of cash inflows Project Q $ 46,400 $ 50,104 Project S $ 150,500 Project R $ 84,900 $ 97,524 $ 165,525 The only cash outflows are the initial investments in the projects. Required: Rank the investment projects using the project profitability index. Rank 1 Rank 2 Rank 3 The management of Winstead Corporation is considering the following three investment projects (Ignore income taxes.): Investment required Present value of cash inflows Project Q $ 46,400 $ 50,104 Project S $ 150,500 Project R $ 84,900 $ 97,524 $ 165,525 The only cash outflows are the initial investments in the projects. Required: Rank the investment projects using the project profitability index. Rank 1 Rank 2 Rank 3