Using the Black-Scholes option pricing formula to determine how many of the following statements are false:

I) The longer the time to expiration, the cheaper the call option, all else equal. II) The call value decreases with volatility, all else equal. III) The lower the current stock price, the more expensive the call option, all else equal. a) I only b) II only c) I and II only d) I and III only e) I, II and III only