Mike and Vanessa separated June 15, 2021. Vanessa has come to you for assistance in determining how their assets will be divided.

Mike and Vanessa have decided to sell the matrimonial home and will split the proceeds from the sale equally.

The following is a list of their other assets:

Asset	Value at date of marriage July 20, 2008 and other information	Value at date of separation June 15, 2021
Joint bank account	Each put $5,000 in their joint bank account	$14,000
Mikes Car	Purchased during marriage	$7,000
Vanessas Non-registered Investment Account	See Note 1 below	$175,000
Mikes RRSP	$35,000	$165,000
Mikes TFSA	First contribution in 2013	$50,000
Vanessas RRSP	First contribution in 2015	$55,000
Vanessas TFSA	First contribution in 2015	$60,000

Note 1: Vanessa inherited $175,000 from her Mom when she died. Vanessa put these funds in a Non-registered Investment Account. Vanessa has not added any other funds to the Non-registered Investment Account and has sole direction over the investment decisions and withdrawal amounts for this account.

Required:

1. Calculate how much Mike and Vanessa will each get using property division under Ontario law. (9 marks)