Mike is $50$ years and has as variable annuity worth $$400,000$ between contributions and earnings. He has run into a bit of difficulty lately and has maxed out his credit cards. If he makes a withdrawal from his annuity to pay off his credit card bills, which of the following is true? A He will incur no penalty B He will be penalized $10\%$ of his account value C He will penalized for $10\%$ of the earnings portion of the withdrawal D Mike would not be allowed to withdraw any money from his annuity because it is in the accumulation phase