Carol Crowe and Sheryl Stowe Signed a Standard Form Bank

Carol Crowe and Sheryl Stowe signed a standard form bank guarantee for Joseph Fine and limited their liability to $48,000. Fine is now in default, owing $60,000 to the Bank. Which of the following is TRUE? (Ignore interest and other chargers)

A) Carol's liability is limited to $24,000
B) Carol's liability is limited to $30,000
C) Carol's liability is limited to $48,000
D) If it so chooses, the Bank can proceed against Carol only
E) Both C and D