The wind turbines require an investment of $607,400, while the biofuel equipment requires an investment of $1,199,100. No residual value is expected from either project. Present Value of an Annuity of $1 at Compound Interest 1b. Compute a present value index for each project. If required, round your answers to two decimal places. \begin{tabular}{lr} & Present Value Index \\ \hline Wind Turbines & 1.22 \\ Biofuel Equipment & 1.11 \end{tabular} rate of return to the nearest whole percent