Hanzala has just enough in his Registered Retirement Savings Plan $($RRSP$)$ for a conventional mortgage down payment for the condo he is purchasing which is valued at $$170,000.$ As Hanzala does not want the withdrawal from his RRSP to be taxable, he will be withdrawing under the Home Buyers Plan $($HBP$).$ He knows that the current legislation governing the HBP allows for a maximum withdrawal amount of $$35,000$ from a Registered Retirement Savings Plan $($RRSP$)$ but he does not have that much in his RRSP$.$ Hanzala also knows that he must pay at least $1/15$th of the amount borrowed under this plan. Calculate the amount Hanzala is withdrawing from his RRSP under the HBP to determine his minimum annual repayment required.

Select one:

a$.$

$$2,333\mathrm{.}33$

b$.$

$$3,433\mathrm{.}33$

c$.$

$$3,045\mathrm{.}33$

d$.$

$$3,754\mathrm{.}67$

e$.$

$$2,266\mathrm{.}67$