James earns $7000 per month. His monthly expenses include: $900 in rent, $900 in recreational expenses, $400 in food, $350 in auto payments, $200 in gas and maintenance, $700 in student loan repayments, $250 in credit card payments, and $1800 in miscellaneous expenses. Assuming James saves his monthly surplus, what is his approximate savings rate?

21.43%.

10.72%.

78.57%.

18.85%.