$1.$ Union Atlantic Corporation, which has a required rate of return equal to $14$ percent, is evaluating a capital budgeting project. The initial cash outflow is $$170,000$ and cash inflow at the year$-$end of each of the following four years is $$55,750.$ According to this information, which of the following statements is correct?a$.$ The projects internal rate of return $($IRR$)$ must be less than $14$ percent.b$.$ The projects discounted payback period must be greater than its economic life.c$.$ The project is acceptable as the net present value of the project is positive.d$.$ The projects discounted payback period should be compared with the traditional payback period to make the correct decision.