$1.$ A project your company is contemplating is expected to generate the following cash flows over the next $4$ years:

Year Cash flow $($$$)$

$0-550,000$

$1+100,000$

$2+260,000$

$3+380,000$

$4+50,000$

Calculate the:

$($a$)$ Payback period

$($b$)$ Internal Rate of Return

$($c$)$ Net Present Value $($assume $5\%$ discount rate$)$