Based on the learning on the payoff structure of options, please consider the following application of option theory in corporate finance. In the question, we focus on equity valuation. The equity in a firm is a residual claim, i$.$e$.,$ equity holders lay claim to all cashflows left over after other financial claim$-$holders $($debt etc.$)$ have been satisfied. Suppose V is the value of the firm $($simply you can regard it as the sum of all the cashflows$),$ D is the face value of the outstanding debt and other external claims. Explain how we can denote the payoff to equity holders on liquidation as an option. PLEASE DRAW PAYOFF GRAPH!!!!!!!!