Lost Tree Began Development of a Large Piece of Land

Lost Tree began development of a large piece of land on the Florida coast in 1968. In 2004 it received permission from the state to develop some of its property but the Army Corps could not give a wetlands permit. Lost Tree sued, contending the value of its property fell from $4.8 million to nearly nothing. The district court agreed and awarded damages. The court of appeals:

A) ​agreed that there was a takings but that Lost Tree could only recover the purchase price paid in 1968, not the value in 2004.
B) ​agreed that the Army Corps acted improperly and thereby imposed an excessive fine in violation of the Eighth Amendment.
C) ​disagreed; the Army Corps properly showed that the land was a sensitive wetland area that should not be used for construction, so no payment was due.
D) ​disagreed; Congress has given the Army Corps the ability to stop construction anytime it may endanger a specie.
E) ​none of the other choices are correct.