16. Firms commonly incentivize their management to increase the firm's value by granting man- agers securities tied to the firm stock. Some securities, however, can reduce managerial incentives to manage risk within the firm. Which is likely the best example of this type of security? (a) Deep out-of-the-money call option on the firm's stock (b) Deep-in-the-money call option on the firm's stock (c) At-the-money call option on the firm's stock (d) Long position in the firm's stock