Pappelbon Enterprises recently acquired a chain of convenience stores offering both fuel and food. Pappelbon is now surprised and dismayed to find that the gas pumps have been poorly maintained and will need to be replaced at considerable expense. Each of the following statements accurately reflect this EXCEPT

a) Pappelbon did not fully evaluate the target.
b) Pappelbon overpaid.
c) Pappelbon’s due diligence was not fully effective.
d) Pappelbon’s management was overly focused on acquisitions.