Jonah, an audit partner at Brown & Co$.,$ CPAs, is considering entering into a business relationship with Heidi, the CFO of one of his audit clients. Which statement best describes the application of the AICPA independence rules to this situation?

Jonah may not have a cooperative arrangement with Heidi under any circumstances.

Jonah may enter into a business relationship with Heidi but not the audit client itself.

Jonah may not have a joint closely held investment with Heidi if the investment is material to Jonah. Jonah may obtain a waiver from the company's creditors to make the investment.