A married couple, H and W, decided to separate. At the date of marriage, H owned a car worth $5,000. H also had school debt of $10,000 and a credit-card debt of $5,000. Ws assets at the date of marriage consisted of a $4,000 inheritance she had received shortly before the marriage. On the valuation date, H owns $20,000 in RRSPs (including a $5,000 gift he received from a relative during the marriage) and has paid off all his debt. W has saved $50,000 in RRSPs. H and W jointly own a matrimonial home worth $400,000, which they purchased during the marriage. They also have a joint line of credit on which they owe $10,000.

a) Calculate each spouses net family property.

b) Calculate the appropriate equalization payment.