For the first time, Richard miscalculated his RRSP contribution room and contributed $3,000 in excess of his actual room. All of the following statements are true, EXCEPT: a) Richard will have to pay a penalty of 1% per month on the over-contribution of $3,000. b) Richard cannot claim the over-contribution as a tax deduction. c) Tax on the investment income on Richard's over-contribution is deferred. d) Any penalty incurred may be waived if Richard can prove that the excess contribution was made through reasonable error