Colors Inc. is currently evaluating a new project that entails an initial cash outflow of$$330,000.$ The project is projected to yield cash inflows of $$100,000,$ $$120,000,$ $$120,000,$and $$150,000$ for Years $1$ through $4,$ respectively. The company has set a required rate ofreturn at $12$ percent. This project falls within the manufacturing industry and focuses onthe development of a new product line. With this background information, kindly provideyour responses to the following questions:a$.$ b$.$ What the projects net present value $($NPV$).$What the projects internal rate of return $($IRR