When Theo retired from his pension fund two years ago at the age of 65, he took a lump sum of R500 000 and bought a life annuity from an insurer with the remaining R1 500 000 of his retirement benefit. Which of the following statements is correct? a. If the remaining value of the life annuity at any stage falls below R247 500, Theo will be able to commute it for a lump sum. b. If the remaining value of the life annuity at any stage falls below R125 000, Theo will be able to commute it for a lump sum. c. If the remaining value of the life annuity at any stage falls below R15 000, Theo will be able to commute it for a lump sum. d. Theo will not be able to commute the life annuity. e. None of the above