The Opportunity to Defer Investing to a Later Date May

Multiple Choice

The opportunity to defer investing to a later date may have value because
I.the cost of capital may increase in the near future;
II.uncertainty may be increased in the future;
III.the project has positive, short-term cash flows;
IV.market conditions may change and increase the NPV of the project

A) I only
B) I and II only
C) III only
D) IV only