9. A firm has assets of $16.4 million and 2-year, zero-coupon, risky bonds with a total face value of $7.4 million. The bonds have a total current market value of $7.1 million. The shareholders of this firm can change these risky bonds into risk-free bonds by purchasing a ____ option with a 2-year life and a strike price of _____ million.

Multiple Choice

A. call; $7.1

B. call; $7.4

C. put; $16.4

D. put; $7.1

E. put; $7.4