eslie, who is 18 years old, has just completed high school. He has made the decision to work fullime rather than continuing on with his education. His parents, Michael and Melissa, were saddened to learn of Leslie's decision particularly since they have struggled to set aside funds in an RESP for him for the past several years. The RESP is currently valued at $62,000 and is comprised of: $43,800 in principal contributions, \$4,200 in CESGs and $14,000 in investment returns (on both the CESG and principal contributions). Assuming, Michael and Melissa do not have any more RRSP contribution room for this year, when they terminate the RESP, what statement is true? a) Michael and Melissa must include their principal contributions to the RESP as part of their total incomes for the year; this amount will be subject to taxation at their respective marginal tax rates. b) The $14,000 in investment earnings can be rolled over to either Michael or Melissa's RRSP as an accumulated income payment. c) Michael and Melissa must include the $14,000 in investment earnings as part of their total income for the year. In addition, a 20% penalty will apply. d) Michael and Melissa can withdraw the CESGs paid Sto the RESP as an education assistance payment provided it is used towards the education of a blood relative of Leslie