Equity Holders in a Leveraged Firm Have

Multiple Choice

Equity holders in a leveraged firm have

A) A long put option to sell the firm's assets to the bond holders.
B) A long call option on the firm's assets, bought from the bond holders.
C) A short call option on the firm's assets, sold to the bond holders.
D) A short put option on the firm's assets, sold to the bond holders.