Koji and Misaki have been contributing to a registered education savings plan for their son, Benjiro, for $12$ years. Benjiro, who just turned $22,$ has informed his parents that he wants a career in acting and will likely never pursue post$-$secondary education. What can Koji and Misaki do with their RESP investment?

a$.$

They will receive their contributions back but will lose the income that was generated.

b$.$

They will receive all the funds back but must pay tax on the value of the investment.

c$.$

They can contribute the accumulated income payments to their respective RRSPs$,$ as long as they have contribution room.

d$.$

They can give the money to Benjiro; as long as he uses it to pursue his career ambitions, it will not be taxed.