Mary, age $65,$ elects to annuitize her $$150,000$ variable annuity under a straight life income option. As specified in her contract, the AIR is $5$ percent, which produces an initial payment of $$950.$ If the values in her contract net a constant return of $5$ percent, what will Mary's next income payment be$?$

$($Search Chapter $11).$

a$.$ $$950$

b$.$ $$998$

c$.$ $$1,050$

d$.$ $$1,110$