Which of the Following Statements Is True Regarding Trading and Transactions

Which of the following statements is true regarding trading and transactions costs?

A) As long as share issues are costless, investors are indifferent about whether to receive returns in the form of capital gains or as cash dividends on shares.
B) If issuing securities entails large costs, both corporations and stockholders should prefer a full-retention strategy regarding dividends.
C) If investors find creating homemade dividends too costly, they would not be willing to pay a premium for stocks that habitually pay dividends.
D) All of the above statements are true.
E) Only statements (a) and (b) are true.