A timer has a maximum time interval of $32$ seconds if the base unit is $1$ second. Number $40$ is loaded into the timer. Identify the true statement for the mentioned timer.

The timer is a $16-$bit timer that generates a pulse every $1$ second

The timer is a $4-$bit timer that generates a pulse every $40$ microseconds

The timer is an $8-$bit timer that generates a pulse every $1$ microsecond

The timer is a $5-$bit timer that generates a pulse every $40$ seconds