The opportunity to defer an investment until a later date may have value mostly because:

i) The cost of capital may increase in the near future

ii) Probability of the "good scenario" may increase in the future

iii) Investment costs fluctuate over time

Select one:

a. Option (i) and (ii)

b. Option (i) only

c. Option (ii) and (iii)

d. Option (iii) only

e. Option (ii) only