Alex leased a shop from Geoffrey for a term of 48 months at an expressed rent of $6,000 per month, commencing January 1, 2000 and terminating on December 31, 2003. On January 1, 2004, Alex paid Geoffrey $6,000, which Geoffrey accepted. On the first day of the next 8 months, Alex paid the rent to Geoffrey who continued to accept it. On September 20, Geoffrey had an offer from Peter to lease Alex's shop for $6,800 per month. Geoffrey immediately faxed notice to terminate to Alex, effective October 20, 2004. Which of the following statements is/are TRUE?

1. Because this is a commercial periodic tenancy, either party can terminate.
2. On January 1, 2004 a new periodic lease was created by the actions of Geoffrey and Alex.
3. Geoffrey is entitled to terminate the lease because Alex did not increase his rental payments when
4. the lease was renewed.
5. The notice period will be whatever is reasonable in the circumstances.

(1)A,B, and D only

(2)A, B, and C only

(3)C and D only

(4)All of the above