Jack and his partner, Cathy,both work in the information technology sector Jack eans an annuatgross salary of $84,000 and is in a 35% tax bracket Cathy earns an annual gross salary of $38,000 and is in a 25% tax bracket(We ignore CPP, El and Provincial taxes.) Each partner has anopening RRSP contribution room of $8,000 for 2016. Show your calculation details for full marks.Required (show all calculation details and necessary explanation): a. Calculate Jack's net monthly pay and spendable income if he contributes $400 per month tohis RRSP account [3 points] b. What will Jack's RRSP contribution room be at the beginning of 2017? [3 points] c. Calculate Cathy's net monthly pay and spendable income if he contributes $300 each monthto a tax-free savings account.[3 points] d. What will Cathy's RRSP contribution room be at the beginning of 2017? [3 points]