Which of the following two statements is true?I. If a large corporation is in a position such that it can bear the risk of loss as well or better than the insurance company, then it makes economic sense for it to use non$-$insurance strategies such as retention, self$-$insurance, or captive insurers. II$.$ Even though the large firm may have a comparative cost advantage in bearing risk, it is offset to some degree by the costs that it must incur to replicate the services provided through the insurance contract. Group of answer choicesOnly I is trueOnly II is trueBoth I and II are true