The time budget for the project is 5 1/3 hours.
If the research time is 1/4 of the complete hours, we can calculate the time by multiplying the total time by 1/4.
Therefore, we have:
We need to change all the numbers to improper fractions before we can multiply:
Therefore, we can multiply to be:
As a mixed number, the hours will thus be:
Hence, the correct option is the LAST OPTION.