Which of the following statements are NOT true? I. Shelf registrations and private placements are examples of seasoned security issues. II. Issue costs for debt are typically larger than issue costs for equity. III. In the steps a company takes to prepare for an IPO, the "road show" precedes the "bake-off". IV. Bearer bonds make it easier for investors to avoid paying taxes on interest income.

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