A Corporation Had an Operating Loss in 2002

A corporation had an operating loss in 2002. All prior years had positive earnings. In utilizing thetax laws on carrybacks and carryforwards on operating losses a corporation

A) has the option of selecting whether to carryforward or carryback the loss.
B) must carryback the operating loss for at least one year before it can carryforward.
C) must first carryback the loss to 2001, then to 2000 and 1999.
D) must first carryback the loss to 1999, then to 2000 and 2001.