Which of the Following Is a Disadvantage of a Stock

Which of the following is a disadvantage of a stock repurchase?

A) Management may have information about good future prospects for the firm that was not previously publically announced prior to the repurchase.
B) The firm ends up paying more for the shares than they are worth.
C) The IRS may impose penalties on the firm if tax authorities can show that the repurchase was performed to avoid dividend taxation.
D) All of the above