Which of the following is/are reason(s) why the valuation of common stock is generally harder than the valuation of bonds?

I. Future cash flows on stocks are not known in advance.

II. Common stocks don't have a maturity date.

III. Common stock valuation is sensitive to estimates of the dividend growth path

a) Statement II only

b) All statement are correct and relevant.

c) Statement I only

d) Statements I and III only

e) Statement III only