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Cody has a 14-year-old son who wants to open an RRSP. The 14-year-old has filed an income tax return with earned income for the past

Cody has a 14-year-old son who wants to open an RRSP. The 14-year-old has filed an income tax return with earned income for the past three years. What is the true statement concerning Cody's son and establish an RRSP?

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