The correct answer is S3 Lifecycle Policy, which allows you to define rules for automatically transitioning objects to less expensive storage classes or deleting them after a certain period of time, ensuring you do not pay for storage you do not need. S3 Versioning does not delete objects but keeps versions of modified files. S3 Replication is a feature for automatically copying objects across S3 buckets. S3 Transfer Acceleration is used for faster transfer of objects to and from S3 buckets.