24. Adamas Medical currently has 85,000 shares outstanding. Book value is $762,000 and market value is $1.7 million. The company has net income of $550,000. Adamas Medical is considering a project which requires the purchase of $372,000 of fixed assets. The net present value of the project is $10,000. Equity shares will be issued as the sole means of financing the project. Given the above information, which of the following statements is correct? I. there is no book value dilution after the equity issuance II. there is no market value dilution after the equity issuance III. there is book value dilution after the equity issuance IV. new book value per share after the equity issuance is higher than $10 A. I only B. I and II only C. II and III only D. I, II and IV only E. None of the above