Which of the following is true of a repurchase (buyback) of shares?

	a.	If the market price of a stock increases after a buy back, value is passed to those who sold.
	b.	The true purpose of a buyback is to escape from the regular payment of interest.
	c.	Companies tend to buy back their stock when theyre doing poorly and price is low.
	d.	Repurchases earn continuing shareholders the most when the stocks market price is below its true or intrinsic value.