Which of the following statements correctly describes the impact of a specific change in each of the following factors that have been described in lectures as influencing the time value of money?

a. Holding all else equal, as the markets expectations of inflation increase the present value of a future expected $100 cash flow will decrease.

b. More than one of the other answers is correct

c. Holding all else equal, as the rate of return that could be expected from a risk-free government security decreases the present value of a future expected $100 cash flow increases.

d. Holding all else equal, as the risk associated with the expected receipt of $100 in the future increases the present value that expected cash flow also increases.

e. None of the other answers is correct