$2.$Which of the following statements concerning bankruptcy is correct?

a$)$ The higher cost of capital which a firm pays in order to avoid excessive debt is considered a direct cost of bankruptcy.

b$)$ Bankruptcy is a relatively inexpensive process.

c$)$ Bankruptcy costs cannot offset the tax$-$related gains from leverage

d$)$The administrative expenses of a bankruptcy are classified as indirect bankruptcy costs.

e$)$The amount of debt a firm can raise decreases as the likelihood of bankruptcy increases.