Choose the false statement from the list below.

Group of answer choices

A: An alternative to using the Black-Scholes formula is to compute the value of growth options using risk neutral probabilities.

B: Future growth options are not only important to firm value, but can also be important in the value of an individual project.

C: While the Black-Scholes-Merton formula values American options, most growth options cannot be exercised at any time.

D: Out-of-the-money calls are riskier than in-the-money calls, and because most growth options are likely to be out-of-the-money, the growth component of firm value is likely to be riskier than the ongoing assets of the firm.

E: B and D