A question is given followed by two Statements I and II. Consider the Question and the Statements and mark the correct option.

Question:

Let A, B, C, D be distinct non-zero digits. If AA x AB = CCDD, where A is at most 3 and B is at most 4, then what is B equal to?

Statement I: C = 1.

Statement II: D = 2.

Which one of the following is correct in respect of the above Question and the Statements?