$4$ Which of the following statements regarding net operating losses originating in $2017$ is true?

Multiple Choice

A corporation can carry the Net Operating Loss $($NOL$)$ back two years and forward indefinitely.

A corporation can carry the Net Operating Loss $($NPL$)$ back two years and forward up to $20$ years.

None of these is a true statement.

It can offset up to $80$ percent of taxable income before the Net Operating Loss $($NOL$)$ deduction in a carryback year.

A corporation can carry the Net Operating Loss $($NOL$)$ back five years and carry it forward indefinitely.