The most accurate statement that describes the time it takes for the parachute to fall is:
It takes longer to fall because it experiences greater air resistance.
The parachute has a larger surface area compared to the coin and the hammer, which significantly increases air resistance. This means that, while all objects fall at the same rate in a vacuum due to gravity, the parachute's design causes it to fall more slowly through the air compared to the heavier coin and hammer, which experience less air resistance relative to their weight.