4. Generally, we expect risky firms to be to issue callable bonds relative to safe firms because a. More likely; risky firms have higher discount rates and thus have more room for their rate to improve which makes the call option more valuable to them. b. More likely; safe firms have lower discount rates and thus have less room for their rate to improve which makes the call option more valuable to them. c. Less likely; risky firms have higher discount rates and thus have more room for their rate to improve which makes the call option less valuable to them. d. Less likely; safe firms have lower discount rates and thus have less room for their rate to improve which makes the call option less valuable to them. e. Not enough information