Cheryl and Terrell have been married for $35$ years. Cheryl turned $71$ on May $5,2023,$ and had a big celebration. Terrell's $67$th birthday is coming up on January $16,2024.$ Cheryl has already started planning for his birthday. Cheryl is the financial guru in the family and knows to convert her Registered Retirement Savings Plan $($RRSP$)$ to a Registered Retirement Income Fund $($RRIF$)$ before December $31,2023.$ She estimates that the Fair Market Value $($FMV$)$ of her RRIF on January $1,2024,$ will be $$792,500.$ She knows that her spouse's age is important in the RRIF withdrawal calculation. She estimates that Terrell's Registered Retirement Savings Plan $($RRSP$)$ investments will have a Fair Market Value on January $1,2024,$ of $$488,325.$ Based on the information Cheryl provided, what is the minimum amount she must withdraw from her RRIF amount in $2024,$ taking advantage of Terrell's age?

Age and RRIF Factors

Age RRIF Factors

$654\mathrm{.}00\%$

$664\mathrm{.}17\%$

$674\mathrm{.}35\%$

$684\mathrm{.}55\%$

$694\mathrm{.}76\%$

$705\mathrm{.}00\%$

$715\mathrm{.}28\%$

$725\mathrm{.}40\%$

$735\mathrm{.}53\%$

$745\mathrm{.}67\%$

Select one:

a$.$

$$34,474$

b$.$

$$41,844$

c$.$

$$33,047$

d$.$

$$40,415$

e$.$

$$31,811$