Which of the following statements is correct? a. the federal funds rate is the rate banks charge their most creditworthy customers. b. the prime rate involves longer, more risky loans than the federal funds rate. c. the discount rate is the rate banks charge one another on overnight loans. d. the federal funds rate is derived based on the prime rate.

David paid $975,000 for two beachfront lots in coastal south carolina, with the intention of building residential homes on each. two years later, the south carolina legislature passed the beachfront management act, barring any further development of the coast, including david's lots. when david files a complaint to seek compensation for his property, south carolina refuses, pointing to a passage in david's own complaint that states "the beachfront management act [was] properly and validly designed to south carolina's " is south carolina required to compensate david under the takings clause?