Use the following information to answer the question(s) below. Galt Industries is trading for $20 per share and has 25 million shares outstanding. Galt Industries has a debt-equity ratio of 0.4 and its debt is zero coupon debt with a ten year maturity and a yield to maturity of 8%. Which of the following best describes Galt's debt using a put option?

Group of answer choices

Long $200 million in risk free debt and Short a put option on the firm's assets with a $200 strike price

Short $200 million in risk free debt and Long a put option on the firm's assets with a $200 strike price

Long $200 million in risk free debt and Short a put option on the firm's assets with a $700 strike price

Short $200 million in risk free debt and Long a put option on the firm's assets with a $700 strike price