Bean Co. is defined as an exempt business for GST/HST purposes. It has calculated input tax credits of $40,000 on taxable supplies it has purchased during the year. How much input tax credits may be claimed in completing a GST/HST return? (Choose one of the following answers and provide explanation as to why)

A: It will claim the $40,000 as input tax credit, and it will not have to charge GST/HST to its customers.

B: None, it is an exempt business and therefore charges no HST/GST and gets no input tax credits.

C: None, because it is a capital related transaction and makes up part of the value of the assets.

D: It does not have to charge HST/GST since it is exempt, but it may claim the entire $40,000 as a refund.