Which of the following statements about dividends and share repurchases is NOT$$ true?

A$.$

Not all firms pay$$ dividends; for these$$ firms, investors can use a variety of other approaches to estimating firm$$ value, including estimating free cash flow to determine enterprise value or using a valuation multiples approach and comparing the firm to its peers

B$.$

For a long$$ time, the U$.$S$.$ SEC viewed repurchases as a potential form of illegal$$stock price$$ manipulation$...$ A rule was later passed in $1982$ to make repurchases$$legal$,$ leading to the large volume of repurchases we see today

C$.$

Firms pay dividends for a variety of$$ reasons, including getting rid of extra$$ cash, signaling future profitability to outside$$ investors, and attracting investors who have a preference for$$ dividend$-$paying stocks

D$.$

All else being$$ equal, many investors prefer receiving dividends rather than share$$ repurchases, since capital gains from repurchases are taxed but dividend payments are untaxed at the investor level$($more specifically, they only taxed once at the corporate$$ level$)$