If You Ignore Taxes and Transaction Costs,a Stock Repurchase Will

If you ignore taxes and transaction costs,a stock repurchase will: I. reduce the total assets of a firm.
II) increase the earnings per share.
III) reduce the PE ratio more than an equivalent stock dividend.
IV) reduce the total equity of a firm.

A) I and III only
B) II and IV only
C) I, II, and IV only
D) I, III, and IV only
E) I, II, III, and IV