Which of the following statements i CORRECT?a$.$ Because bankruptcy requires that corporate bondholders be paid in full before stochelders receive anything, bondholders generally prefer to see corporate managers invest in high risk$/$high return projects rather than low risk$/$low return projects.b$.$ Since bondholders receive fixed payments, they do not share in the gains i ricky projects tur out to be highly successful. However, they do share in the losses if risky projects fall and drive the firm into bankruptcy. Therefore, bondholders generally prefer to see corporate managers invest in low risk$/$low return projects rather than high risk$/$high retum projects.c$.$ One drawback of forming a corporation is that you lose the limited lability that you would otherwise receive as a proprietor.d$.$ One advantage of operating a business as a corporation is that stockholders can deduct their pro rata share of the taxes the firm pays, thereby eliminating the double taxation investors would face in a partnership.