Abbas invested $35,000 in an equity-based segregated fund in his registered retirement savings plan (RRSP). The fund has a 75% maturity guarantee and 100% death benefit guarantee. It is now one year later, and the fund has risen to $38,500. Which of the following statements about Abbas segregated fund investment is CORRECT?

a) If Abbas dies today, his beneficiary will receive a death benefit of $35,000.

b) If Abbas withdraws the entire amount today, his capital gain will be taxed as interest.

c) Abbas segregated fund is protected by the Canadian Investor Protection Fund (CIPF).

d) Abbas must declare a $3,500 capital gain for the current year.