Real and Financial Options. Fill in the blanks. (L023-3) a. An oil company acquires mining rights to a silver deposit. It is not obliged to mine the silver, however. The company has effectively acquired a(n) __(a)__ option, where the exercise price is the cost of opening the mine and extracting the silver. b. Some preferred shareholders have the right to redeem their shares at par value after a specified date. (If they hand over their shares, the firm sends them a check equal to the shares' par value.) These shareholders have a(n) __(b)__ option. c. A firm buys a standard machine with a ready secondhand market. The secondhand market gives the firm a(n) __(c)__ option.