Upon his death, Frank was receiving annuitized payments of $500 a month from his annuity. He had elected a 15-year payout option, but received income for only ten years. Payments will continue to Frank's 35-year-old beneficiary, Harold, for another five years. How will the remaining amount be paid to Harold?

• a. Harold must receive no less than $500 a month for no more than five years.
• b. Harold has a one-time option to elect to take $250 a month for ten years.
• c. Harold must, under tax law, take remaining payments as a single lump-sum amount.
• d. Harold can elect to stretch the remaining amount as payable over his life expectancy.