You Are Considering Two Projects with the Following Cash Flows

You are considering two projects with the following cash flows: $$\begin{array} { l l l } & \text { Project A } & \text { Project B } \\& & \\\text { Year 1 } & \$ \mathbf { 2 , 5 0 0 } & \mathbf { \$ 4 , 0 0 0 } \\\text { Year 2 } & \mathbf { 3 , 0 0 0 } & \mathbf { 3 , 5 0 0 } \\\text { Year 3 } & \mathbf { 3 , 5 0 0 } & \mathbf { 3 , 0 0 0 } \\\text { Year 4 } & \mathbf { 4 , 0 0 0 } & \mathbf { 2 , 5 0 0 }\end{array}$$ 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.

A) II only
B) IV only
C) I and III only
D) II and IV only
E) I, II, and III only