According to Rajan and Zingales Study, Debt Ratios of Individual

According to Rajan and Zingales study, debt ratios of individual companies depend on:
I. Size: Large firms have higher debt ratios.
II. Tangible assets: Firms with high ratios of fixed assets to total assets have higher debt ratios.
III. Profitability: More profitable firms have lower debt ratios.
IV. Market to book: Firms with higher ratios of market-to-book value have lower debt ratios. V) Market structure: Firms with monopoly power have higher debt ratios.

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