Annual taxable income ($) 0 - 10,200 10,200 34,750 34,750 - 90,250 90,250 - 195,200 195,200 400,000 400,000 and over Tax rate 0% 10% of excess over 10,200 2,900+20% of excess over 34,750 7,500+25% of excess over 90,250 17, 250+ 28% of excess over 195,200 35,000 + 35% of excess over 400,000 Max's annual taxable income equates to $3,220 per month. He wants to save enough each month to pay his income tax at the end of the year. What is the minimum amount he must save each month? Answer