22.The Board of Directors of EnviroCo is considering whether to invest a great deal of money into research and development of "green technology."Such a decision could have a long-term beneficial effect for the company's future but is likely to reduce short-term profits.As an alternative, the Board could foregothe expenditure for R&D and buy back its own shares in order to immediately increase the company's reserves.Which of the following groups would most likely favor the option to increase reserves and not invest in R&D?

a.Management

b.Shareholders

c.Third-party stakeholders

d.Each of the above groups would probably feel the same way