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ESSAY. Answer the following questions briefly but concisely. A mere YES or NO answer does not merit any point. 1 . The law creating the National Military and Development Authority (NMDA) provides that it has an authorized capital of One Hundred Billion Pesos (P100,000,00.00) which may be fully subscribed by the Republic of the Philippines and shall either be paid up from the proceeds of the sales of its land assets. It is created. among others, to own, hold and/or administer military reservations in the country and implement its conversion to other productive use. Is it stock or non-stock corporation? Decide. (5%)