You are considering two options in purchasing an automobile: Option A: Purchase the vehicle worth $26,200 and pay for the vehicle over 3 years with equal monthly payments at 3% APR financing. Option B: Purchase the vehicle at a discount price of $24,000 to be paid imme- diately. The funds, which would be used to purchase the vehicle, are presently earning 6% annual interest compounded monthly. Which of the following statements is incorrect? (a) If you go with Option A, the monthly payment would be $761.93. (b) Option B is a better choice if you have enough money to purchase in cash. (c) Option B is a better financing plan, as the net cost of financing is cheaper than Option A. (d) The effective annual yield for your funds is 6.17%