The following statements are related to residual income : 

1. Persistent factor range from 0-1

2. Using 0 persistent factor will generate the same result with the assumption that company cease to exist in the terminal period 

3. Persistent factor equals to 1 means that company's ROE will be the same with its cost of equity at the terminal period

4. Persistent factor above 0.62 means the assigned company is below the industry average

Which of the following statement(s) is or are true?