Ronald is a 45 year old pharmacist who is changing jobs he has decided to personally accept a check from his $150,000 previous employers retirement account and invest it into a rollover IRA within 60 days. In this case the check will be for ____? and to avoid taxes and early withdrawal penalties he will need to deposit____? in the rollover IRA.

a) $120,000; $120,000

b) $150,000; $150,000

c) $150,000; $120,000

d) $120,000; $150,000