Which of the Following Is Not One of the Advantages

Which of the following is not one of the advantages that were previously available when the insubstance defeasance of debt was allowable?

A) It provided a tool to 'manage' company earnings.
B) Restrictive limitations imposed by the trustee for debenture holders can be relaxed by reducing the amount of debt.
C) It allowed debt to be retired with reference to specific individual debt-holders.
D) It allowed strategic rethinking of business policies.
E) The effect of forcing up the market price of desired securities, when a company attempts to buy back debt, can be reduced.