Fred and Ella are going to establish a business. They expect the business to be very successful in the long-run, but project losses of approximately $100,000 for each of the first five years. Due to potential environmental concerns, limited liability is a requisite for the owners. Which form of business entity should they select?

a. General partnership

b. Limited partnership

c. C corporation

d. S corporation

e. Any of these choices should satisfy Fred and Ella.