1. During 2020, Ms. jen is employed in micro by a large public company. The employer sponsors a defined contribution pension plan and, during 2020, the company made contributions on ms. jen behalf of $2,500. Ms. jen made a matching contribution of $2,500.

At the end of 2020, Ms. jen had unused deduction room of $17,000.

During 2020, Ms. jen has the following income and loss data: Salary $89,200 Taxable Benefits From Employer 5,600 Union Dues ( 450) Net Loss From Mail Order Business ( 4,500) Net Rental Income 6,700 Spousal Support Paid ( 15,000) Eligible Dividends Received 2,850 Interest On Savings Account 850

Ms. jen's RRSP deduction limit for 2021:

1. $81,550
2. $14,679
3. $26,679
4. $5,000

1. This year, hunter sold a parcel of land. The gross proceeds were $400,000 and the cost of land was $120,000. The proceeds of $400,000 are payable in four equal instalments of $100,000, due on June 1 each year, commencing this year.

What is the maximum capital gains reserve hunter can take this year?

1. $140,000
2. $210,000
3. $224,000
4. $280,000