Allegra Company Is Considering the Following Three Investment Opportunities

Allegra Company is considering the following three investment opportunities:
Project 1: Has an initial cost of $500,000 and the present value of its net cash inflows is $550,000.
Project 2: Has an initial cost of $450,000 and the present value of its net cash inflows is $504,000.
Project 3: Has an initial cost of $550,000 and the present value of its net cash inflows is $594,000.
Using the net present value method, rank the projects from most profitable to least profitable.

A) 3, 1, 2
B) 1, 2, 3
C) 2, 3, 2
D) 2, 1, 3