A senior citizen wants to buy an immediate annuity. Asked if there are expense fees or charges for doing so, the agent or broker would be the most correct replying that---

a) there are no expense fees or charges associated with immediate annuities
b) expense feels and charges are deducted from each premium payment
c) expense fees and charges are built into the annuity purchase rates used in calculating the annuity income benefit amount
d) expense fees and charges are deducted monthly or annually from interest earned on the annuity