5. Bulldog Inc. sold stocks with basis of $2,000 for $500 this year. It had no other capital transactions in 2022. The company reported the following amounts of net capital gain or loss in prior years: 2017: $3,000 2018: $0 2019: $0 2020: $200 2021: $200 What is Bulldogs net capital loss carryover to 2023?

A. $0 B. ($1,600) C. ($1,500) D. ($1,100) E. None of the choices is correct

Answer is D. $1,100 but please explain why, thanks.