Which of the following statements are true in relation to water hammer phenomenon ?

1. It causes surface erosion in pipes.
2. The pressure rise is given by $\rho CU$ for sudden closure of valve.
3. It is accompanied by serious cavitation.
4. The volume modulus of fluid is the relevant fluid property.
5. It is governed by the Reynolds number of the flow.

Select the correct answer using the codes given below.

Codes :