In humans, respiration occurs in the following steps. Arrange these steps in the correct order. I. Diffusion of $O_2$ and $CO_2$ between blood and tissues II. Diffusion of $O_2$ and $CO_2$ across alveolar membrane III. Pulmonary ventilation by which atmospheric air is drawn in and $CO_2$ rich alveolar air is released out IV. Cellular respiration V. Transport of gases by the blood Choose the CORRECT answer from the options given below:

A I, II, III, IV, V

B V, I, III, IV, II

C III, I, II, V, IV