14} Which of the following statements is false? a) If the value of the firm's assets exceeds the required debt payment, debt holders are fully repaid. In} Another way to view corporate debt is as a portfolio of riskless debt and a short position in a call option on the rm's assets with a strike price equal to the required debt payment. c} Viewing debt as an option portfolio is useful as it provides insight into how credit spreads for risky debt are determined. d} You can think of the debt holders as owning the firm and having sold a call option with a strike price equal to the required debt payment. e) None of the above