Jason was always bragging about his money. This time, he told you that he just contributed $23,400 to his Registered Retirement Savings Plan (RRSP), the maximum amount that he was permitted based on his contribution limit. He also let you know that he maximizes his RRSP contribution every year, which is irritating as he knows that you have not yet started on your own RRSP contributions. He however does not want to tell you his salary (and rightly so as this is confidential!) but based on the information that he has provided, you can figure it out. You know the maximum RRSP contribution limit for 2021 is $27,830 (Table D), and you also know that the formula is the lower of a) 18% of the previous years earned income and b) the maximum contribution limit. You also know that Mike does not have a company pension plan, nor did he receive a salary increase in the last three years as his company has been locked in union negotiations. What is Jason's salary?

1. $118,000
2. $130,000
3. $154,611
4. $100,000
5. None of the responses