Check my work Project Number 4 $ ( 5 , ) $(450,000) $(220, eee) 5(470,000) Investisent required Present value of cash inflows at a 12% discount rate 586,080 522, eee 266,400 616,650 Net present value $ 86,080 $ 72, eee $ 46,400 $ 146,650 Life of the project Internal rate of return 9 years 9 years 16% 18 years 15% 17% 6 years 22% Since the company's required rate of return is 12%, a 12% discount rate has been used in the present value computations above. Limited funds are available for investment, so the company can't accept all of the available projects. Required: 1. Compute the project profitability index for each investment project. (Round your answers to 2 decimal places.) Project Profitability Index Project 1 Project 2 Project 3 Project 4 2. Rank the four projects according to preference, in terms of net present value project profitability index and internal rate of return; Net Prosent Value Project Profitability Index Internal Rato of Return Project 1 Project 2 Project 3 Project 4