An executive compensation scheme might provide a manager a bonus of $W for every dollar by which the company's stock price exceeds the cutoff level $V. The arrangement is equivalent to issuing the manager

a)put options on the firm's stock with strike price $W

b)put options on the firm's stock with strike price $V

c)call options on the firm's stock with strike price $W

d)call options on the firm's stock with strike price $V