Michael was laid off by his company owing to budget cuts. Before being laid off, he earned $1000 per week. If he has been receiving unemployment insurance benefits for 26 weeks, which of the following statements is true in this scenario? Michael will now only be eligible for 20 percent of his previous income as unemployment benefits. Michael is eligible for $1000 per week if he can show that he has been earnestly searching for jobs. Michael is no longer eligible for unemployment benefits. Michael can continue to avail unemployment benefits for another 26 weeks