Which One of the Following Statements Is Correct Concerning the Costs

Which one of the following statements is correct concerning the costs of issuing securities?

A) Domestic bonds are generally more expensive to issue than equity IPOs.
B) The total direct costs of an equity IPO is typically 15 percent of the amount raised.
C) A seasoned offering is typically more expensive on a percentage basis than an IPO.
D) There tend to be substantial economies of scale when issuing securities.
E) The costs of issuing bonds can be reduced to zero with the use of a "Red Shoe" provision.