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  3. 36. mark contributed $7,000 a year for 2005 to 201

36. Mark contributed $7,000 a year for 2005 to 2019 to a spousal RRSP. In...

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Finance

36. Mark contributed $7,000 a year for 2005 to 2019 to a spousal RRSP. In 2022, he and his spouse divorced and she withdrew $20,000 to set up a new household. Mark will pay tax on:

a. $0 b. $7,000 c. $20,000 d. $14,000

37.

Nakul is going to receive a non-indexed pension of $23,000 a year. He expects to be retired for 30 years. He further expects inflation to average 2.5% during his retirement and can buy an annuity yielding 8%. He will discount this income using:

a.

5.37%

b.

5.50%

c.

2.50%

d.

8.00%

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