17. Which of the following unrelated statement/s is/are true?

I. Berkshire Hathaway B shares is the highest priced stock in the world

II. The requirement that a borrowers debt to equity ratio should not exceed a certain threshold is an example of a positive covenant

III. If a companys return on capital is 17% and its cost of capital is 20%,then it has not created value for the suppliers of its capital

IV. If stock is selling at 12x earnings, then it has P/E ratio of 12x

a. III only

b. I only

c. I & IV

d. III & IV