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Lakeland Marina is a small manufacturer of custom boats. It wants to incorporate and sell stock but plans to only offer about $750,000 worth of securities within a 12-month period to 50 nonaccredited purchasers. In this scenario, does Lakeland Marina have to register with the Securities and Exchange Commission (SEC)? a. Yes, everyone selling stock has to register with the SEC. b. No, it can claim an exemption under Rule 504 and not register. c. No, it can claim an exemption under Rule 505 and not register. d. No, it can claim an exemption under Rule 506 and not regist