Which of the following statement is wrong?

	A.	Debt can be viewed as a portfolio of riskfree debt and a long position in a put option on the firm cash flow with strike price being the face value of the debt.
	B.	Equity can be viewed as a call option on the assets of the firm with a strike price equal to the value of debt outstanding.
	C.	The debt holders can be viewed as owning the firms assets and having sold a call option with a strike price equal to the face value of the debt
	D.	Option valuations can be used to estimate the magnitude of agency cost problem within the firm.