From the Mid-1970s Until 1991, Much Financing Was Done by Long-Term

From the mid-1970s until 1991, much financing was done by long-term debt rather than equity because

A) lending institutions and people wanted a share of the "action."
B) dividends paid equity holders are tax deductible.
C) dividends are paid out of after-tax earnings.
D) United States tax laws were biased toward debt and away from equity.