Which of the following statements is incorrect regarding the tax treatment of capital gains and losses for corporate taxpayers:

a. Net long-term capital gains are taxed at ordinary income tax rates.

b. Net capital losses can only be taken to the extent of capital gains.

c. Unlike for individuals, $3,000 of net capital losses can not be taken in excess of capital gains each year.

d. Net capital losses can be carried back three years and forward five years.

e. All of the above.