What is the minimum amount Brenda must withdraw from her non-qualifying RRIF this year based on her age and account balance?

To determine the minimum amount Brenda must withdraw from her non-qualifying Registered Retirement Income Fund (RRIF), it's essential to understand the withdrawal rules associated with these accounts. Withdrawals from RRIFs are typically calculated based on the account holder's age and the balance in the account as of January 1 of the withdrawal year.

In Brenda's case, the amount she must withdraw is derived from the life expectancy factors stipulated by the Canada Revenue Agency (CRA) and the specific balance of her RRIF account. These factors vary by age, meaning that if Brenda is, for example, 70 years old, there is a specific percentage that she must withdraw based on her account balance.

The correct answer reflects the amount accurately calculated using Brenda's age and her RRIF balance as of the required date, meeting the legislative requirements for withdrawals to avoid penalties associated with inadequate distributions. Therefore, based on the values and age parameters provided, a withdrawal amount of $2,304 aligns with both the regulatory framework and Brenda's financial situation. It reflects the minimum she must withdraw to comply with the withdrawal requirements for her RRIF account.