High-tech companies invest heavily in research and development (R&D) although they expect the investments will not generate any sensible cash inflows. The decisions on such investment can be best justified by

Select one:

a. the growth option embedded in the investment.

b. the profitability of the R&D projects.

c. abandonment option embedded in the investment.

d. the NPV of the R&D projects.

e. the delay option embedded in the investment.