Fernando and Lester were married for 4 years before they separated. Upon separation, they executed an agreement that specified, among other things, that Fernando would transfer one of his RRSPs to Lester, Fernando had made contributions of $22,000to the RRSP over the years and it was worth $37,000 at the time of transfer. As a result of the transfer; 

a. Lester will have to include $15,000 in his income for the year of the transfer 

b. Fernando will have to include $37,000 in his income for the year of the transfer 

c. Fernando will have to include $15,000 in his income for the year of the transfer 

d. Neither Fernando nor Lester will have to include an amount in their income as a result of the transfer