You are considering two projects with the following cash flows:

	Project A	Project B
Year 1	$ 2,500	$ 4,000
Year 2	3,000	3,500
Year 3	3,500	3,000
Year 4	4,000	2,500

Which of the following statements are true concerning these two projects?

I. Both projects have the same future value at the end of year 4, given a positive rate of return.

II. Both projects have the same future value given a zero rate of return.

III. Both projects have the same future value at any point in time, given a positive rate of return.

IV. Project A has a higher future value than project B, given a positive rate of return.