Marley wants to open a chain of coffee shops in California but needs some investors. Her friend Marc tells her that she should be sure that she satisfies the requirements of the SEC. Marc says she has two options, either she can do an IPO or she can sell securities under the private placement exemption. Which of the following is true? If Marley limits buyers to California residents she can register with the California securities agency and will not need to be concerned with the SEC There are a number of options that Marley could use such as a filing under Regulation A or an intrastate offer Marc is correct, those are Marley's only options If Marley limits the dollar value of the sales to under \$5 million she will exempt from all SEC rules If Marley does a private placement she can only sell securities to California residents