The management of Winstead Corporation is considering the following three investment projects (Ignore income taxes.):
The only cash outflows are the initial investments in the projects.Required:Rank the investment projects using the project profitability index.

Project Profitability Index

A measure used to evaluate the attractiveness of an investment or project, calculated as the present value of future cash flows divided by the initial investment cost.

Initial Investments

The upfront money used to fund a new project, purchase a company, or make an investment, typically associated with starting costs.

Investment Projects

Initiatives or plans that require capital investment to generate financial returns or achieve business objectives over time.