Given below are two statements:
Statement $I :$ The $E^{\circ}$ value of $Ce^{4+} / Ce^{3+}$ is $+1.74 \, V$.
Statement $II :$ $Ce$ is more stable in $Ce^{4+}$ state than $Ce^{3+}$ state.
In the light of the above statements,choose the most appropriate answer from the options given below:

• A
  Both statement $I$ and statement $II$ are correct.
• B
  Statement $I$ is incorrect but statement $II$ is correct.
• C
  Both statement $I$ and statement $II$ are incorrect.
• D
  Statement $I$ is correct but statement $II$ is incorrect.