You are considering a project with conventional cash flows (i.e., initially negative cash flow, and positive future cash flows afterwards) and the following characteristics: IRR=11.63% Profitability index =0.04 NPV=$987 Payback period =2.98 years Which of the following statements is correct given this information? I. The discount rate used in computing the net present value was less than 11.63 percent. II. The project should NOT be accepted if it takes at least 3 years to fully pay back the initial investment. III. The discount rate used in the computation of the profitability ratio was 11.63 percent. IV. This project should be accepted as the internal rate of return exceeds the required return