Which of the following statements are true?

1. Mr. T would support less dividends whenever these retained earnings are invested by the firm at a positive return on invested capital.
2. Mr. T would support less dividends whenever these retained earnings are invested by the firm at a return on invested capital that is more than the opportunity cost for Mr. T.
3. Mr. T would support less dividends whenever these retained earnings are invested by the firm at a return on invested capital that is less than the discount rate.