Arvinder received an after-tax bonus of $20,000 from his employer and he is considering the following options: 1. contributing the money to his RRSP and investing the funds in a 1 -year GIC with an interest rate of 4.75% ii. applying the money to his credit card to reduce his current balance of $7,600-the credit card carries an annual interest rate of 18.5% iii. Investing the money in a non-registered, equity mutual fund for one year; he anticipates the fund will generate a return of 12% this year Iv. applying the money to his $50,000 personal line of credit which carries an interest rate of 6.25%. Arvinder borrowed the money to invest in an 'R' Canada Savings Bond earning 8%. Assuming Arvinder is in a 41.5% combined marginal tax bracket and based SOLELY on tax-efficiency, rank his options from the MOST prudent to the LEAST prudent. a) 11,1, iil and IV b) Iv,II,iil and I c) II, Iv, I and IiI d) II, III, I and iv