The Opportunity to Defer Investing to a Later Date May

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. Investment costs fluctuate over time.
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