Multiple choice question. A company is contemplating a long$-$term bond issue. It is debating whether to include a call provision. Which of the following statements about call provision is correct? $(10\%)$

a$.$ The company can take advantage of interest rate declines by calling in an issue and replacing it with a lower coupon issue.

b$.$ The benefit of including a call provision is that the company might wish to eliminate a covenant for some reason.

c$.$ The cost of including a call provision for the company is a lower coupon.

d$.$ A put provision is desirable from an investor's standpoint, so it helps the company by reducing the coupon rate on the bond.