Which of the following statements is incorrect with respect to hedging/risk management? (a) It is the net exposure of the company that generally should be hedged. (b) Firms may use an array of side deals to manage risk such as insurance, swaps/options, futures/forward contracts, or natural hedges. (c) With risk management activities, the firm may be able to better monitor the manager s performance well as they potentially reduce the impact of luck on firm performance. (d) In the presence of convex tax functions the overall corporate tax liability of a firm may be decreased if the firm hedges its earnings stream. (e) Hedging increases the likelihood that they will have to access costly external capital markets