16. For a company hedging in the real world, which of the following statements is/are true?

i) Corporations should not hedge because a shareholder can always replicate such policies themselves trading related securities.

ii) In case a decision is made to hedge, corporations can do it at a lower transactions costs than shareholders can.

iii) A company can hedge for strategic reasons that may lie beyond an ordinary shareholders knowledge.

A. i and ii only

B. i and iii only

C. ii and iii only

D. All of the above.

E. None of the above.