Hrishi is a senior executive for a large manufacturing company in Mississauga Ontario where he has been employed for the past 10 years and his annual salary is $250,000 including bonus. He is 47 years old and has never been married although he dates regularly. Hrishi owns a home in Mississauga which he purchased 10 years ago for $479,000 and is now valued at $1,220,000 with annual property taxes of $5,600, heating costs of $120 per month, electricity costs of $210 per month and his property insurance is $1,200 per year. He has a mortgage on the property with a balance of $382,000 and monthly payments of $1,410. Hrishi has a non-registered investment portfolio valued at $439,000, his Retirement Savings Plan has a balance of $328,000, he has $48,000 in his Tax Free Savings Account and his chequing account has a balance of $13,000.

Hrishi drives a 1 year old BMW valued at $92,000 which he leases for $850 per month and his car insurance is $219 per month. When he is not at work he divides his time between playing tennis at a local tennis club which costs him $220 per month, dating woman he meets at bars and pursuing his favorite hobby of collecting. Hrishi has a number of collections and he spends many hours shopping at antique stores and flea markets as well as attending auctions and surfing the internet for bargains. When he was a young boy he started a stamp collection which he says is worth $28,000 today although it has not been appraised. He progressed to small paintings of butterflies and he thinks he has spent over $20,000 on these. His house is full of antique furniture which he picked up at auctions and he says the total value of his household furniture and appliances is $52,000. About ten years ago Hrishi purchased an old Harley Davidson Motorcycle and, since then, he has bought 12 more antique motorcycles which he stores in his garage. He recently had the collection appraised for insurance purchases and the combined value of all the motorcycles is $186,000. He has a special insurance policy on the collection that cost him $197 per month and he does not take any of them on the road.

Hrishi also owns a small farm in rural Ontario with an old farmhouse and a barn. The value of the property is $258,000 and he uses the house to vacation in and to store his collection of old bottles which he says are worth about $8,000. Hrishi lets a local farmer use the land in exchange for fresh milk, eggs and some beef whenever he visits the property. There is no mortgage on the property and the property taxes are $1,900 per year, heating costs are $70 per month, electricity is $120 per month and insurance is $800 per year. He keeps a snowmobile valued at $14,000 and an ATV valued at $12,000 in the barn and uses them when he visits depending on what season it is. Last year Hrishi purchased a 38 foot yacht (boat) which is valued at $210,000 and which he keeps docked at a local marina at a cost of $520 per month. He borrowed from his bank to purchase the boat and the current loan balance is $184,000 with monthly payments of $1,196.00 and his insurance is $1,442 per year.

It terms of other debt Hrishi has a Home Equity Line of Credit with a limit of $50,000 and a current balance of $10,000. He also has an Everyday Bank MasterCard with a limit of $20,000 and a balance of zero, a Royal Bank visa card with a limit of $15,000 and a balance of $2,000 and a Petro Canada credit card with a limit of $5,000 and a balance of zero. There is no other debt outstanding.

21. Based on the information above Hrishis TDSR is

1. 37.3%
2. 36.2%
3. 38.9%
4. 40.7%