Right now, a barrel of water is exactly 40% full of water. What is the volume of the barrel?

Statement #1: If the water in the barrel right now were increased by 25%, then the barrel would be exactly half full.

Statement #2: If a volume of water equal to half of what is in the barrel right now were added to the barrel, the empty space left in the barrel then would equal the volume of the water now.

A:Statement 1 ALONE is sufficient to answer the question, but statement 2 alone is NOT sufficient.

B:Statement 2 ALONE is sufficient to answer the question, but statement 1 alone is NOT sufficient.

C:BOTH statements 1 and 2 TOGETHER are sufficient to answer the question, but NEITHER statement ALONE is sufficient.

D:Each statement ALONE is sufficient to answer the question.

E:Statement 1 and 2 TOGETHER are NOT sufficient to answer the question.