The cash nows associated with an investment project are as followsCash Flowsinitial Outflowyear$1$Year $2$Year $3$Year $4$$$70,000$$$20,00030,00040,000$$$30,000$What's the payback period of the project? if a firm's cutoff payback period is $2$ years, should it accept the project?Multiple Choice$2\mathrm{.}50$ years; reject the project $2\mathrm{.}25$ years; accept the project$2\mathrm{.}25$ years; reject the project$2\mathrm{.}67$ years; reject the project$2\mathrm{.}67$ years; accept the project