Which of the following statements is true with respect to a share buyback?

Group of answer choices

(a) A share buyback will always increase the value of shares in a firm as it results in a reduction in the number of shares on issue which then increases its earnings per share.

(b) If the company raises cash needed for a share buyback via the sale of assets, one may see a temporary reduction in the firms profits and a temporary reduction (or no change) in its earnings per share.

(c) If a company buys back shares and doesnt pay down debt to the same proportion, then the value of its shares may go down due to the higher financial risk shareholders need to bear.

(d) Both (b) and (c) are correct.

(e) All of (a), (b), and (c) are correct.