The intrinsic value of employee stock options is on the date that they are issued. O Equal to an equivalent traded option. O Less than zero. O Greater than zero. O Equal to zero. O Equal to the risk-free rate. A conversion price is defined as: O A feature included in the terms of a new issue of debt or preferred shares to make the issue more attractive to initial investors. O The value of a convertible bond if it could not be converted into common stock. O A bond that can be exchanged for a fixed number of shares of stock for a specified amount of time. O The number of shares per bond received for conversion into stock. O A security that gives the holder the right to purchase shares of stock at a fixed price over a given period of time. From an options standpoint, in a situation where a firm has assets that are worth more than debt, then executives should exercise the right to pay off the debt. O True False