Megan participates 100 hours in her Alaskan fishing boat operation, while her only employee participates 25 hours. Which of the following is correct regarding Megan's material participation?
Megan is a material participant because this activity is a significant participation activity.
Megan is a material participant because her participation constitutes substantially all of the participation in the activity for the year.
Megan is a material participant because she participated 100 hours which is not less than the participation of any other individual in the activity.
Megan is not a material participant because she did not meet any of the current year tests of material participation.
Megan is a material participant because she did not participate in the activity for more than 500 hours.
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