Alex is 31 years old and has lived in Los Alamos, New Mexico, for the last four years where he works at the Los Alamos National Laboratory (LANL). LANL provides employees with a 401(k) plan and for every $1 an employee contributes (up to 9 percent of the employees salary) LANL contributes $3 (a 3 to 1 match). The plan provides a six-year graded vesting schedule. Alex is now in his fifth year working for LANL, and his current year salary is $150,000. Alexs marginal tax rate is 28 percent in 2015.

Answer the following questions relating to Alexs retirement savings in 2015. (Do not round intermediate calculations. Round "Future value factor" to 4 decimal places. Round final answers to the nearest whole dollar amount.)

a.

Assume that over the past four years, Alex has contributed $45,000 to his 401(k) and his employer has contributed $115,000 to the plan. The plan has an account balance of $175,000. What is Alexs vested account balance in his 401(k)

b.

Because Alex considers his employers matching contributions free money, he wants to maximize the amount of LANLs contributions. What is the least amount Alex can contribute and still maximize LANLs contribution?