Which of the following statements is correct? $1)$ Very often, a company's stock price will rise when it announces that it plans to commence a share repurchase program$\mathrm{.}2)$ If a company has a $2-$for$-1$ stock split, its stock price should roughly double$\mathrm{.}3)$ Stock repurchases increase the number of outstanding shares.Themclientele effect is the best explanation for why companies tend to vary their dividend payments from quarter to quarter$\mathrm{.}5)$ Capital gains earned in a share repurchase are taxed less favorably than dividends; this explains why companies typically pay dividends and avoid share repurchases.