Which of the following statements are correct when conducting a market multiples valuation analysis: I. Peer firms should have similar future growth, profitability, and risk characteristics. II.Forward multiples such as the Forward P/E ratio are preferred to backward multiples. III. Higher leverage at peer firms will bias their equity multiples downward. IV. A large sample of peer firms is required to get an accurate valuation.

		I only
		I and IV only
		I, II, and IV only
		II and III only
		I, II, III, and IV