Identify which of the following statements is true.
A) A corporate capital loss can be carried back three years, and then can be carried forward five years.
B) Corporate capital loss carrybacks can offset corporate ordinary income earned in previous years.
C) At the election of a corporation, a net capital loss carryback can be forgone and carried forward only.
D) All of the above are false.
A) A corporate capital loss can be carried back three years, and then can be carried forward five years.
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Lance Inc.'s free cash flow was just $1.00 million. If the expected long-run growth rate for this company is 5.4%, if the weighted average cost of capital is 11.4%, Lance has $4 million in short-term investments and $3 million in debt, and 1 million shares outstanding, what is the intrinsic stock price?
A. $17.28 B. $17.70 C. $18.13 D. $18.57 E. $19.01
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Indicate whether the statement is true or false