A municipal syndicate manager wishes to bid on a $100,000,000 municipal offering, even though his syndicate normally bids on issues of up to $50,000,000. The manager may do all of the following EXCEPT:I Bid on 1/2 the issue
II Require each syndicate member to double its participation
III Allow any syndicate participants that so wishes to drop from the syndicate and add new members
IV Join with another syndicate to bid on the issue, with both syndicate managers acting as co-managers

A. I and II
B. III and IV
C. I, III, IV
D. II, III, IV