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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

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.

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