Answer questions 20 and 21 based upon the following information: Company Z has only debt and equity in its capital structure. The total market value of the firm's on. All of the debt matures in 20 years, and has a face value of $15 million. rrent debt matures, the company intends to issue new debt with a 10 year maturity Q20. The equity value in this company is equivalent to a. A European put option. b. A European call option. c. An American put option. d. An American call option. Q21. The above option has a. A strike price of $20 million and a time to expiry of 20 years. A strike price of$20 million and a time to expiry of O years. c. A strike price of $15 million and a time to expiry of 20 years. d. A strike price of $15 million and a time to expiry of 10 years