You are considering a project with positive yearly operating cash flows and the following characteristics: IRR - 10.5% NPV - 51000, Payback period - 2.75: Prof. Index 1.15. Which of the following statements is correct given this information? 1. The discount rate used in computing the net present value was more than 10.5% II. The discounted payback period must be less than 2.75 years III. The profitability index was calculated using a discount rate of 10.5% 1. This project should be accepted as the internal rate of return exceeds the required return I and II only Nonly Lil and IV only III and IV only LIL and Ill only