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Option 1 : Only conclusion I follows
From the given statement, we can conclude that to be my friend, one "has to be" smart. It is given that Shreya is not smart.
Therefore, Shreya cannot be a friend of mine.
Hence, conclusion I follows.
According to the statement, all my friends 'are' smart; it does not imply that any of them 'act' smart.
Therefore, conclusion II does not follow.
Hence, only conclusion I follows.
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