Carnival Cruise Line announces a stock offering on April 2. The offering price for its shares is $8.0, 9% below the price of $8.8 just prior to the announcement. United Airline Inc. on April 21 announces a stock offering to the public. The offering share price is $26.5, a 5% discount from the share price just before the announcement. These underpricings or price discounts in stock offerings are consistent with which one of the capital structure theories? (A) Market Conditions, (B) Trade off, (C) Pecking Order.