Reasons for Stock Repurchases Include All of the Following EXCEPT

Reasons for stock repurchases include all of the following EXCEPT:

A) to sell off shares used in management stock option incentive programs, in which managers can purchase shares of stock at pre-specified prices.
B) to use in stock-based acquisitions of other firms.
C) the firm has too little cash and sees its own stock as one of its most attractive sales alternatives.
D) all of the above
E) none of the above