The management of Winstead Corporation is considering the following three investment projects (Ignore income taxes.): Project Project R Projects Investment required $ 32,000 $ 68,500 $ 116,500 Present value of cash inflows $ 34, 120 $ 78,500 $ 128,465 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