$1.)$ A proposal is being considered to improve an existing road connecting two medium$-$sized cities to reduce transportation costs. The project cost is $$2,000,000.$ Present annual transportation costs for all traffic amount to $$2,540,000$ per year and would continue if no improvement is made. After the improvement, annual transportation costs are estimated to be $$2,350,000.$ Assume the project service life is $20$ years and minimum acceptable rate of return is $12$ percent. Should the project be undertaken? Evaluate this proposal by using the net present value method, benefit$-$to$-$cost ratio method, and internal rate of return method, respectively.

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