Farley and Eliska purchase an immediate joint and last survivor annuity. 3 months after the payments start, they determine that they want to buy a new car and they contact their agent in order to make a withdrawal. Which of the following statements is correct concerning the withdrawal that Farley and Eliska want to make? 

a) the withdrawal can be done for cash value

b) the policy will be terminated 

c) the withdrawal will not be permitted 

d) a market value adjustment (MVA) will be charged