Question $26(1$ point$)**$ in Canada$**$

Bharat is age $24$ in $2023.$ He opened a TFSA in $2017$ and made an initial contribution

of $$5,500.$ Over the following years, Bharat made the following transactions in his

TFSA:

monthly contributions of $$500$ in $2018,2019$ and $2020$;

no contributions in $2021$ or $2022$;

a withdrawal of $$3,500$ in March $2022$; and

a withdrawal of $$5,000$ in November $2023.$

Which of the following statements about Bharat's TFSA contribution room is true?

Bharat paid penalty taxes of $1\%$ per month in January and February $2022.$

Bharat can recontribute his November $2023$ withdrawal in January $2024.$

Bharat has available contribution room of $$28,500$ on January $1$st$,2024.$