A. The investment timing option does not affect the expected cash flows and should therefore have no impact on the project's risk.
B. The more uncertainty about the project's future cash flows the more likely it is that Commodore will go ahead with the project today.
C. If the project has a positive expected NPV today, this means that its expected NPV will be even higher if it chooses to wait a year.
D. All of the above statements are correct.
E. None of the above statements is correct
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