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For the equity of a firm to be considered a call option on the firm's assets, the firm must: A) be in default. B) be

For the equity of a firm to be considered a call option on the firm's assets, the firm must:

A) be in default.

B) be leveraged.

C) pay dividends.

D) have a negative cash flow from operations.

E) have a negative cash flow from assets.

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