StangWay Corp. stock is trading for $ $25$ per share. StangWay has $23$ million shares outstanding and a market$$ debt$-$equity ratio of $0\mathrm{.}56.$StangWay$\text{'}$s debt is zero coupon debt with a$5-$year maturity and a yield to maturity of $12\%$ EAR$($effective annual$$ rate$).$

a$.$ Describe$$ StangWay's equity as a call option. What is the maturity of the call$$ option? What is the market value of the asset underlying this call$$ option? What is the strike price of this call$$ option?

b$.$ Describe$$ StangWay's debt using a call option.

c$.$ Describe$$ StangWay's debt using a put option.