If a party to a contract engages in an anticipatory repudiation of the contract, which of the following statements is correct?

The other party never has a duty to mitigate any losses resulting from the repudiation.

The repudiation is a material breach of the contract.

The repudiating party cannot retract the anticipatory repudiation.

The other party cannot take action against the repudiating party until the time for

performance has passed and performance has not occurred.