Of the Following, Who Has Advantages in Elections, and Why

Of the following, who has advantages in elections, and why?

A) Challengers, as they tend to be fresh faces, capable of generating excitement.
B) Challengers, as they are capable of raising money while incumbents are distracted by their offices.
C) Incumbents, because they can devote the time and money to dissuade challengers.
D) Incumbents, because they are known factors and likely to be beloved by voters.
E) No one, as elections offer a fair playing field to incumbent and challenger alike.