Logan Company is considering two projects, A and B. The following information has been gathered on these projects: Initial investment needed; Project A = $40,000, Project B = $60,000 Present value of future cash flows; Project A = 60,000, Project B = 85,000 Useful life; Project A = 4 years, Project B = 4 years Based on this information, which of the following statements is (are) true? Statement I. Project A has the highest ranking according to the profitability index criterion. Statement II. Project B has the highest ranking according to the net present value criterion. 1) Only I. 2) Only II. 3) Both I and II. 4) Neither I nor