10. Which of the following statements is FALSE?

Select one:

a. Given the option to wait, an investment that currently has a positive NPV can have a negative value.

b. If there is little uncertainty, the benefit of waiting is diminished.

c. By delaying an investment, we can base our decision on additional information.

d. In the real option context, the dividends correspond to any value from the investment that we give up by waiting.