Rogue River, Inc. is considering a project that has an initial outlay or cost of $$180,000.$ The respective future cash inflows from its four$-$year project for years $1$ through $4$ are: $$50,000$ $$70,000,$$$90,000,$ and $$110,000$ respectively. Rogue River uses the internal rate of return method to evaluate projects. Will Rogue River accept the project if its hurdle rate is $16\%?$

$23\mathrm{.}89\%,$ reject the project

$27\mathrm{.}47\%,$ accept the project

$23\mathrm{.}89\%,$ accept the project

$31\mathrm{.}59\%,$ reject the project

$31\mathrm{.}59\%,$ accept the project