Given below are two statements:

Statement I: (240)10 = (11110000)2

Statement II: (101011111101010)2 = (57EA)16

In light of the above statements, choose the most appropriate answer from the options given below:

1
Both Statement 1 and Statement II are correct.
2
Both Statement I and Statement II are incorrect.
3
Statement I is correct but Statement II is incorrect.
4
Statement I is incorrect but Statement II is correct.

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