Fantino Inc

Fantino Inc. was incorporated in 2018 and adopted a calendar year for tax purposes. Here is a schedule of Fantino's taxable income for 2018 and 2019.
In 2020, Fantino generated $297,300 ordinary income and recognized a $14,000 net capital loss. Which of the following statements is true?

A) Fantino can deduct its $14,000 net capital loss only on a carryforward basis.
B) Fantino can carry the net capital loss back to 2018 and receive a $2,940 refund of 2018 tax.
C) Fantino can deduct the capital loss against its 2020 ordinary income, producing $2,940 of tax savings.
D) Fantino can carry the net capital loss back to 2019 and receive a $1,218 refund of 2019 tax.