Please explain the answer and why it is correct or incorrect.

12 (DA) (5pts) After a touchdown, team Wolverine is still one point behind with 7 seconds to go. Team Wolverine has the choice between either go for two points and win, or go for one point to push the game into an overtime. This is the last game to determine the conference championship. If team Wolverine wins, they will go to the Sugar Bowl with a payoff of $9,200,000. If they lose, then they will go to the Cotton Bowl with a payoff of $1,200,000. The winning chances for the Wolverine for two-points vs. 1-point strategy, and the subsequent winning chance in the overtime game is depicted by the decision tree below. $9,200,000 Success win Statements I) Node 1's expected payoff is 4,400,000 0.4 II) Node 3's expected payoff is 3,528,000 Faillose 2 points $1,200,000 III) Node 4's expected payoff is 3,040,000 1 99,200,000 IV) Node 4 uses the wrong symbol, nodes 1-3 use the correct symbol. Win 0.3 Overtime 4 1 point Success Lose $1,200,000 0.97 Fail $1,200,000 A) All statements are correct B) Only statements I, II and IV are correct. C) Only statements I and IV are correct. D) Only statement II is correct