Which of the following is/are true regarding a reverse stock split?

a. Firms reduce the number of outstanding shares by increasing the par value of the stock.
b. Firms reduce the number of outstanding shares by canceling outstanding shares.
c. A reverse stock split usually increases the market value per share in inverse proportion to the reverse split.
d. Managers and governing boards might use reverse stock splits to keep the market price per share within some target trading range.
e. all of the above

E