The following statements have been made about life cycle costing. (1) An important use of life cycle costing is to decide whether to go ahead with the development of a new product (2) Life cycle costing encourages management to find a suitable balance between investment costs and operating expenses. Which of the following statements is/are true? Select one: a. I only O b. 2 only c. Neither I nor 2 d. Both 1 and 2 The following statements have been made about life cycle costing. (1) Project manangement is often an important aspect of life cycle costing. (2) Customer life cycles are similar to product life cycles. Which of the above statements is/are true ? Select one: O a. I only O b. 2 only c. Neither 1 nor 2 d. Both 1 and 2