Scenario:Shane and Matthew are pilots and have been long-term friends. Shane and Matthew are each 30-years-old and work at the same company, called "Positions for Pilots."Shane owns 2 airplanes and Matthew does notown any airplanes. Shane owns a white airplane and a gray airplane.Shane offers to sell his white airplane to Matthew for $500,000. Matthew agrees to pay $500,000 to Shane to purchase Shane's white airplane.

On January 10, 2023, Shane and Matthew sign a written contract with Shane promising to sell his white airplane for $500,000 and Matthew promises to buy Shane's white airplane for $500,000. Both parties sign the agreement and form a bilateral contract, a promise for a promise.

On January 11, 2023, Shane delivers the white airplane to Matthew and gives the keys to Matthew. Matthew tells Shane that he will give Shane the check for $500,000 by the end of the week.

Question: WHICH OF THE FOLLOWING IS ENTIRELY TRUE:

1. As of January 11, 2023, Shane's part of the contract is executory because he delivered the white airplane to Matthewand Matthew's part of the contract is executedbecause he promised to pay Shane the $500,000 payment.

1. As of January 11, 2023, Shane's part of the contract is executed because he delivered the white airplane to Matthew and Matthew's part of the contract is executorybecause he has notgiven Shane the $500,000 payment yet.

1. As of January 11, 2023, Shane's part of the contract is executed because he delivered the white airplane to Matthew and as of January 11, 2023, Matthew's part of the contract is executed because he promised to give Shane the $500,000 payment at the end of the week. Also, both parties' promises were executed on January 10, 2023 and thus, it is an executed contract.

1. All of the above