Use the Following Information to Answer the Question(s)below

Multiple Choice

Use the following information to answer the question(s) below.
Galt Industries is trading for $20 per share and has 25 million shares outstanding.Galt Industries has a debt-equity ratio of 0.4 and its debt is zero coupon debt with a ten-year maturity and a yield to maturity of 8%.
-Which of the following best describes Galt's debt using a put option?

A) Long $200 million in risk-free debt and short a put option on the firm's assets with a $200 million strike price
B) Short $200 million in risk-free debt and long a put option on the firm's assets with a $200 million strike price
C) Long $200 million in risk-free debt and short a put option on the firm's assets with a $700 million strike price
D) Short $200 million in risk-free debt and long a put option on the firm's assets with a $700 million strike price