From a Tax-Paying Shareholder's Point of View,a Stock Repurchase

From a tax-paying shareholder's point of view,a stock repurchase:

A) is equivalent to a stock split.
B) is more desirable than a cash dividend.
C) is more highly taxed than a cash dividend.
D) has the same tax effects as a cash dividend.
E) creates a tax liability even if the investor does not participate in the repurchase.