Which of the following statements correctly reflects the rules governing interest to be paid on an individual's Federal tax deficiency and a claim for refund?

a. The IRS has full discretion in determining the rate that will apply.

b. The simple interest method for calculating interest is used.

c. For noncorporate taxpayers, the rate of interest for assessments is different than the rate of interest for refunds.

d. The IRS must adjust the rate of interest quarterly.

e. None of the above is correct.