1. Which of the following statements regarding employer contributions to Profit-sharing plans are true?

   I Contributions are discretionary, but must be substantial and recurring.

   II No requirement of company profit for contribution.

   III Limited to 25% of total employer-covered compensation.

   IV Employer may add $58,000 in addition to the employee's $19,500 contribution for the 2021 tax year.

   		Only I and IV are true
   		Only II and III are true
   		I, II, III and IV are all true
   		Only I, II and III are all true