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It is about time that Massim and Maria purchase their first home as they have been saving for the last 5 years. Massim and Maria

It is about time that Massim and Maria purchase their first home as they have been saving for the last 5 years. Massim and Maria will be withdrawing from their Registered Retirement Saving Plans (RRSPs) for the down payment under the Home Buyer's Plan (HBP). To date, Maria has contributed $52,000 to her RRSP, while Massim has contributed $33,900. With the downturn in the markets, as of today, April 28,2024, the market value of Maria's RRSP is at $37,220 and Massim's is at $25,580. They will be signing with the bank at the end of the day today for the HBP. What is the maximum amount they can withdraw today from their respective RRSPs to put towards their down payment on the home? Note for withdrawals made after March 19,2019, couples may withdraw $35,000 each from their own RRSP or a total of $70,000.
Select one:
a. $85,900
b. $62,500
c. $60,280
D. $62,970
E. $60,580
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