Suppose we have two firms (Firm U and Firm L) that are absolutely identical except for how they are financed. Firm U is unlevered (meaning it is 100% equity financed and uses no debt). Firm L is levered (meaning it uses both equity and debt financing). Which of the following statements is true? Select one.

	I.	The ROIC of Firm L will be higher than the ROIC for Firm U.
	II.	The ROE of Firm L will be equal to the ROE of Firm U.
	III.	The ROE of Firm L will be higher than the ROE for Firm U.
	IV.	The ROIC of Firm L will be lower than the ROIC for Firm U.
	V.	The ROE of Firm L will be lower than the ROE for Firm U.