$11)$ Which statement is correct?

A$)$ Cash dividends and stock repurchases are treated equally for tax purposes.

B$)$ A non$-$dividend$-$paying firm is more apt to do a stock repurchase than to commence paying dividends.

C$)$ Firms tend to prefer cash dividends over share repurchases for their flexibility and tax benefits.

D$)$ Many firms either ceased paying or decreased their dividends per share in response to the $2003$ change in dividend taxation.

E$)$ In total dollars, cash dividends outweighed stock repurchases for the period $2003-2020.$