Section 1231 property receives preferential tax treatment. The preference(s) include(s)

I.	Net Section 1231 losses are deductible as short-term capital losses.
II.	Net Section 1231 gains are reportable as long-term capital gains.
III.	Net Section 1231 losses are deductible as long-term capital losses.
IV.	Net Section 1231 losses are deductible as ordinary losses.

		A.) Statements I and II are correct
		B.) Only statement I is correct.
		C.) Statements II and IV are correct.
		D.) Only statement III is correct.
		E.) Statements II and III are correct.