The Gain from Exercising a Warrant Is Similar to the Gain

The gain from exercising a warrant is similar to the gain from exercising a call option except:

A) The gain on a warrant is greater by the fraction of warrant shares divided by total
Shares.
B) The gain on a warrant is limited by the firm's value after being reduced by the debt of
The firm.
C) The gain on a warrant is decreased by the fraction of original shares divided by total
Post exercise shares.
D) Both A and B.
E) Both B and C.