Which of the following statements accurately describes characteristics of a leveraged buyout as discussed in lectures? Group of answer choices(a) Leveraged buyouts are financed mainly by the use of high levels of equity capital that imposes a high level of financial risk to the small group of new owners. (b) Targets of leveraged buyout activity tend to be mature companies with low cash flow risk. (c) The first stage of a leveraged buyout generally involves the private equity firm acquiring an unlisted company and immediately listing it on the stock exchange. (d) More than one of the above. (e) None of the above.