Question 10 5 pts Henry & Murdock LLC., is PE firm. Three years ago the firm acquired 75% stake in Kandles Inc., valuing it at a PPM of 6.0x. Today Henry and Murdock have agreed to sell their 75% stake to another PE firm at a PPM of 6.5x. Which of the following can be inferred based on this information? 1. Henry & Murdock is conducting a leveraged recapitalization of Kandles. II. Henry & Murdock is profiting through multiple arbitrage. III. Kandles is involved in a secondary buyout. O ll only II and III I and II I and III O I, II and