Doug sees that his mutual fund is charging him with a 12b-1 fee. He has no idea what this is. Which of the following would correctly summarize for Doug what he is being charged?

a. A fee to purchase his mutual fund shares

b. A tax levied on mutual funds by the US federal government

c. An annual fee charged by the investment company to manage the mutual fund.

d. A fee charged by a registered financial advisor to audit his mutual fund.