c) Jonathan justifies his actions by the following reasons. Please comment why they are incorrect with thorough explanation. I. Appropriate because rental payment on office space is an acceptable use of soft dollars. II. Appropriate because HCM disclosed that it would use soft dollars for overhead expenses. III. Appropriate because Jonathan may charge (and increase) rental rates for use of his property to the extent that the market will bear. c.I) Explain in detail why Choice I is incorrect. [3 marks] c. II) Explain in detail why Choice II is incorrect. [3 marks] c.III) Explain in detail why Choice III is incorrect. [3 marks] c) Jonathan justifies his actions by the following reasons. Please comment why they are incorrect with thorough explanation. I. Appropriate because rental payment on office space is an acceptable use of soft dollars. II. Appropriate because HCM disclosed that it would use soft dollars for overhead expenses. III. Appropriate because Jonathan may charge (and increase) rental rates for use of his property to the extent that the market will bear. c.I) Explain in detail why Choice I is incorrect. [3 marks] c. II) Explain in detail why Choice II is incorrect. [3 marks] c.III) Explain in detail why Choice III is incorrect. [3 marks]