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first person is the person that includes the speaker, so "I" or, "we"

but we know that it's first person singural, not plural; so "I". 

the verb "to be" in first person present is " I am" and in the future it's " I will be" - so that's the correct answer. " I will be" 

was

The conjugation of the "to be" verb in present tense is "am, is, are". In past tense it's "was, were". First person pronouns are "I, me, my, we, us". "We" and "us" are plural because they include "I" and "You" whereas "I" is singular. Therefore, the correct conjugation for "to be" in past tense is "was" since it is the correct past tense verb to use with "I": I was late yesterday.