Albert is considering buying XYZ US Equity Mutual Fund in December in a non-registered account. The fund intends to pay a distribution of $5 per unit, which represents 20% of the unit price. The extraordinary distribution is due to realizing gains on several portfolio positions throughout the year. If Albert buys the fund before the ex-dividend date, what will occur?  

a. He will receive the whole distribution and pay tax on it. 

b. He will receive a prorated distribution for his period of ownership and pay tax on it. 

c. He will not receive the distribution because he did not own the fund for most of the year. 

d. He will pay a lower price per unit because he is not entitled to the distribution