From a Tax-Paying Investor's Point of View, a Stock Repurchase

From a tax-paying investor's point of view, a stock repurchase:

A) Is equivalent to a cash dividend.
B) Is more desirable than a cash dividend.
C) Has the same tax effects as a cash dividend.
D) Is more highly taxed than a cash dividend.
E) Creates a tax liability even if investors do not sell any of the shares they own.