Which of the following is correct? 1. If a company uses straight-line depreciation for financial reporting purposes, it is very likely they have a deferred tax liability with respect to its depreciable assets. II. Straight-line depreciation yields an increasing rate of return on book value over the life of an asset. III. Straight-line depreciation results in lower tax payments than accelerated depreciation methods over the life of an asset. IV. If a company revises its estimate of the useful life of an asset upwards this will decrease annual depreciation expense. a) I and IV b) I, II, and IV c) I, II, III, and IV d) I, II, and