Which of the following is (are) correct concerning perpetuities? I. Perpetuities consist of a stream of equal payments. II. Perpetuities have a life of between twenty and one hundred years. III. Perpetuities have a variable rate of return. IV. The present value perpetuity formula for a stream of annual payments is: C/(1+ r/12)12. Select one: O a. l, ll, and IV only b. I and W only O c. I, ll, and Ill only O d. ll and I only O e.I only