What is the pay period exemption amount for CPP$,$ if an employee is paid $12$ times a year? And what does it mean?

Select one:

a$.$ $$291\mathrm{.}66.$ This means the first $$291\mathrm{.}66$ of gross pay in the month will not have CPP deducted from it$.$

b$.$ $$3,500.$ This means the first $$3,500$ of gross pay in the month will have CPP deducted from it$.$

c$.$ $$291\mathrm{.}66.$ This means the first $$291\mathrm{.}66$ of gross pay in the month will have CPP deducted from it$.$

d$.$ $$58,700.$ This means the first $$58,700$ of gross pay in the month will not have CPP deducted from it$.$