Best,IncWishes to Issue New Stock to Raise Capital

Best,Inc.wishes to issue new stock to raise capital.Best is incorporated,and does all of its business in Indiana.Best intends to offer and sell its new stock only to residents of Indiana,and to restrict sales to individuals from other states for the proper time.Which of the following best describes the status of Best's new stock?

A) This transaction is exempt as an intrastate offering.
B) This transaction is exempt as an intrastate offering, but only if Best sells exclusively to accredited investors.
C) This transaction is exempt as an intrastate offering, but only if Best issues less than $1.5 million in securities.
D) This transaction is exempt as a private placement.
E) Because the securities are traded only in interstate commerce, the securities themselves are exempt.