John, Jay, and Jeff each have an ownership interest in Three Guys Burgers, Inc. Based on the following information, which of them is/are considered to have materially participated the conduct of the Three Guys Burgers business this year? 1. John dedicated more than 500 hours this year to Three Guys Burgers. 2. Jay devoted 150 hours to Three Guys Burgers this year. 3. Jeff devoted 115 hours to Three Guys Burgers this year, but also devoted more than 100 hours to several other activities, for a total of 520 hours in all of the activities combined