Which of the following statements is true? I. The required rate of return is the maximum rate of return that an investment project must yield to the acceptable. II. The cost of capital is the average rate of return that the company earns on its investments. III. The net present value method assumes that cash flows from a project are immediately reinvested at a rate of return equal to the internal rate of return. Multiple Choice Only statement I is true. Only statement III is true. All of the statements are true. None of the statements are true