Miami Corp. has a $50,000 net capital loss for 2020. What are the other years to which Miami can carry and deduct its 2020 net capital loss?

Group of answer choices

Miami can only carry its net capital loss forward to the next five years.

Miami can carry its net capital loss first back to the preceding three years, and then forward to the following five years.

Miami can carry its net capital loss first forward to the following five years, and then back to the preceding three years.

Miami cannot deduct its net capital loss in any year.