Review statements I-II-III and select the best answer about this private equity-boom. From 2006-through first half of 2007 there were unprecedented levels of LBO activity. Review statements I-II-III and select the best answer about this private equity-boom. I. The boom was caused by tremendous liquidity fueled by dramatic rise of collateralized loan obligations and increased hedge fund participation in the markets. II. Cost of debt remained low, allowing strategic buyers to outbid financial buyers for acquisition targets. III. Transactions were characterized by higher leverage multiples, aggressive structures and covenant-lite terms. O Statements I-II-III are all true. O Statements I-II-III are all false. O Only statements I and III are true. o Only statements II and III are true. Only statements I and II are true