A spin$-$off $($also known as a demerger$)$ creates value for the parent company. Which of the following is NOT a means by which a spin$-$off creates value?A$.$ An in$-$specie distribution to parent company shareholders can be structured as Capital Gains Tax freeB. A spin$-$off can unlock hidden value and increase transparency within the parent companyC. All of the options represent means by which a spin$-$off creates valueD. A spin$-$off sharpens the parent company's strategic focusE. The spin$-$off cash proceeds can be used by the parent company to pay down debt