Hargo Corporation had a $50,000 net capital loss in the current year. The corporation reported the following capital gains in prior years: Prior Year 4 3 2 1 $75,000 5,000 30,000 0 Which of the following statements is true? A B The $50,000 loss is used to reduce the $75,000 gain in the fourth prior year. Hargo Corporation has a $15,000 capital loss carryover to next year. The loss is not carried back but carried forward for five years C D The loss is not carried back but carried forward indefinitely