Angelina withdrew $15,000 from her RRSP under the terms of the Home Buyers Plan program in May 2020. She is required to pay $1,000 per year back into her RRSP starting in 2022. Angelina did not make this repayment. But she did contribute $700 into her RRSP in 2022. How will the Canada Revenue Agency (CRA) treat this deposit?

		The $700 deposit will be disallowed by CRA
		The $700 will be allowed but it will be treated as an over-contribution amount and subject to penalties
		The $700 will be applied to her repayment and $300 will be added to her taxable income for 2022
		The $700 will be treated as a valid RRSP contribution and the tax deduction will be allowed