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Of the following actions, which one is most likely to reduce conflicts of interest between managers and stockholders?a.Pay managers large cash salaries and give them no stock optionsb.For a firm that compensates managers with stock options, reduce the time before options are vested (i.e., the time before options can be exercised and the shares that are received can be sold).c.Beef up the restrictive covenants in the firm's debt agreementsd.Eliminate a requirement that members of the board of directors must hold a high percentage of their personal wealth in the firm's stock.e.Change the corporation's formal documents to make it easier for outside investors to acquire a controlling interest in the firm through a hostile takeover.

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