Question #5 Which of the following statements is NOT correct? A) If the per-share stock price of a real estate investment trust (REIT) is less than the per-share net asset value (NAV) of the REIT, it may suggest that the REIT is underpriced relative to its value. B) A REIT is exempt from income taxation if it satisfies a set of restrictive conditions regularly. C) Investors in a C corporation are generally not subject to double taxation. D) Annual depreciation expense may understate the accounting income relative to the actual net cash flow. E) None of the above