Which of the following statements is INCORRECT?

Select one:

a. If the future value of annuity A is greater than the future value of annuity B; then the present value of annuity A must also be greater than the present value of annuity B.

b. The price of a computer today is $400 and inflation is 5% per year. Therefore, in two years the price of the computer is expected to be $440.

c. Future value of an annuity will increase, if the interest rate goes up; but the present value of the same annuity will decrease as the interest rate goes up.

d. If future value of an annuity is known, then present value of the annuity can be found using the present value of a lump sum formula, even if the amount of each annuity payment is unknown.