Monique opened up an RESP when her daughter, Maya, was born. Monique had contributed a total of $32,000 into the plan over the seventeen years. The account currently has a balance of $49,000 based on investment growth of the principal. Maya, who recently graduated from high school, wanted to pursue acting instead of going to post-secondary school. Monique has no choice but to collapse the RESP plan by withdrawing the funds. Monique has an $8,000 RRSP contribution room available and she has an average tax rate of 26%. How much taxes does Monique need to pay the government if she decides to use up her total RRSP room for the RESP rollover?

		$4,140
		$4,420
		$2,340
		$3,960